Oblong raises ~$6.4M via private placement of Series F convertible preferred and warrants

On March 30, 2023, Oblong, Inc. (“ we ” or the “ Company ”) entered into a Securities Purchase Agreement (the “ Purchase Agreement ”) with certain accredited investors (the “ Investors” ), pursuant to which we issued and sold, in a private placement transaction (the “ Private Placement ”) (i) 6,550 shares (“ Preferred Shares ”) of our newly designated Series F convertible preferred stock, $0.0001 par value per share (the “ Series F Preferred Stock ”), initially convertible into up to 3,830,409 shares of our common stock, par value $0.0001 per share (“ Common Stock ”), (ii) preferred warrants (“ Preferred Warrants ”) to acquire up to 32,750 shares of Series F Preferred Stock (the “ Warrant Preferred Shares ”) and (iii) common warrants (“ Common Warrants ”, and with the Preferred Warrants, the “ Warrants ”), to acquire up to 3,830,413 shares of Common Stock.

In connection with the Private Placement, pursuant to an Engagement Letter dated March 30, 2023 (the “ Engagement Letter ”), between the Company and Dawson James Securities Inc. (the “ Placement Agent ”), the Company has agreed to (i) pay the Placement Agent a cash fee equal to 8% of the aggregate gross proceeds raised in the Private Placement, and (ii) grant to the Placement Agent warrants (the “ Placement Agent Warrants ”) to purchase 306,433 shares of Common Stock at an initial exercise price of $1.71.