Peraso Enters $25 Million Equity Facility with RPI
Peraso has entered into a committed equity facility with Roth Principal Investments, or RPI, an affiliate of CR Financial, the holding company for Roth Capital Partners. The CEF allows, but does not obligate, Peraso to issue and sell up to $25 million of its shares of common stock to RPI, at the company's discretion and subject to certain conditions set forth in the CEF agreement, following the filing and effectiveness of a registration statement registering the resale of such shares. Peraso intends to use any net proceeds for working capital and general corporate purposes, including continued product development and expansion in the drone, defense and tactical communications markets. The company is under no obligation to utilize the full amount available under the facility. The company may not be able to sell the full $25M of shares available under the facility due to limitations, including the number of shares registered for resale and applicable Nasdaq rules.
