UniPixel said that it has entered an equity purchase agreement that gives the company the right to “put,” or sell, up to 13.1 million shares of common stock to L2 Capital for an investment amount (subject to adjustment) based upon a per share price equal to the greater of (i) $0.36 or (ii) 90% of the market price quoted for UniPixel common stock. Pricing will be based on the five-day volume weighted average price (“VWAP”) following the put notice.
The deal is subject to a number of conditions.
Analyst Comment
This deal gives UniPixel a line of credit based on equity. (BR)
