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HACKETTSTOWN, NJ, July 17, 2019 (GLOBE NEWSWIRE) -- Vislink Technologies, Inc. (“Vislink” or the “Company”) (NASDAQ: VISL) announced today that it has closed the previously announced public underwritten offering of securities, with gross proceeds of approximately $12 million before deducting underwriting discounts, commissions and other offering expenses payable by the Company.
A primary use of the proceeds was to pay off convertible debt incurred during 2018 while the Company went through a reorganization. Roger Branton, CEO of Vislink Technologies, said, “Our corporate reorganization started mid last year and we took on some debt to help complete that process. With our operational turnaround completed, our key financial goals for this year include improving our capital structure and our working capital position. While the convertible debt was not due until September 2019, we are pleased to pay it off early and for the Company to now be debt-free.”
About Vislink Technologies, Inc.
Vislink Technologies is a global leader in the development and distribution of advanced communication solutions. Driven by technical excellence that has led the industry for over 50 years, our innovative products and turnkey solutions provide reliable connectivity in the toughest environments across the global live production, military and government sectors. Our solutions include high-definition communication links that reliably capture, transmit and manage live event footage, as well as secure video systems that support mission-critical applications. The company’s shares are publicly traded on the NASDAQ exchange under the ticker symbol VISL. For more information, please visit www.vislink.com.
This press release contains forward-looking statements, including, but not limited to, statements related to Vislink’s current expectations, plans and prospects. These forward-looking statements include, without limitation, references to Vislink’s expectations regarding the closing of the public offering. These statements are subject to a number of risks and uncertainties, many of which are difficult to predict, including market conditions, the satisfaction of customary closing conditions related to the proposed offering, and the other factors described in Vislink’s filings with the SEC.
Other risks and uncertainties of which Vislink is not currently aware may also affect Vislink’s forward-looking statements. The forward-looking statements herein are made only as of the date hereof. Vislink undertakes no obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made.
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