BDR - Blonder Tongue inks securities purchase agreement for private placement

Blonder Tongue Laboratories (BDR) +4.1% PM, entered into a securities purchase agreement with certain accredited investors for the sale of shares of its common stock, $0.001 par value/share and warrants to purchase shares in a private placement.Securities Purchase Agreement, which was signed on Dec.14, 2020, provides for the sale and issuance by the company of 1.43M shares and warrants to purchase up to 714,286 shares to the investors.Warrants to be issued to the investors have a three-year term and an exercise price of $1.25/share.On private placement closing, the company expects to receive aggregate gross proceeds of $1M to be used for general corporate purposes.

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Blonder Tongue inks securities purchase agreement for private placement