other material
confidence high
sentiment neutral
materiality 0.65
Interlink Electronics completes $2M second closing of Series A Preferred offering; total $5M
INTERLINK ELECTRONICS INC
- Second closing sold 80,000 Series A Preferred shares at $25/share for $2M gross proceeds.
- Total private placement raises $5M from two closings; net proceeds ~$1.88M from second closing.
- Series A Preferred pays 8.0% annual dividend, convertible to common at $12.50/share; mandatory conversion if common >= $15.
- Certificate of Amendment reduces authorized Series A Preferred from 600,000 to 200,000 shares.
- Proceeds to be used for working capital, general corporate purposes, and potential acquisitions.