Oblong, Inc. (Nasdaq: OBLG) (“Oblong” or the “Company”), the award-winning maker of multi-stream collaboration solutions, today announced that it has entered into definitive agreements with pre-existing and new institutional investors for the purchase of 4,000,000 shares of common stock at a purchase price per share of $3.10 and Series A warrants to purchase an aggregate of 1,000,000 shares of common stock at an exercise price of $4.00 per share in a registered direct offering. The Series A warrants are exercisable until January 4, 2022. Oblong has also agreed to issue to the investors in a concurrent private placement Series B warrants to purchase an aggregate of 3,000,000 shares of common stock that are exercisable six months and one day following issuance, are exercisable for three years from the initial exercise date, and have an exercise price of $4.40 per share. The closing of the offering is expected to take place on or about June 30, 2021, subject to the satisfaction of customary closing conditions.
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