Palladyne AI prices $7M registered direct offering and concurrent private placements with insiders

Palladyne AI Corp.

Priced registered direct offering of 2.79M shares at $2.15 each, with warrants for 2.79M shares at $2.30.
CEO and board members purchased 430K shares at $2.20 and warrants for 430K shares at $0.125 each.
Total gross proceeds of approximately $7M from offerings; net proceeds for working capital and product development.
Warrants become exercisable in 6 months and expire 5.5 years from issuance.
Offering expected to close November 1, 2024; lock-up agreements for 60 days for executives/directors.

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