×

Neonode Announces Form S-3 Filings

Neonode Inc. logo

SANTA CLARA, Calif., June 2, 2014 (GLOBE NEWSWIRE) -- Neonode Inc. (Nasdaq:NEON) announced today that it has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission ("SEC"). When declared effective by the SEC, the registration statement will allow Neonode to issue up to 5 million shares of common stock over the course of 3 years.

In addition, Neonode separately has filed a registration statement covering 2.5 million shares and 2.5 million warrant shares for resale by an institutional investor as previously announced in connection with Neonode's recent private placement.

"We have no plans to raise additional capital in the foreseeable future. We are filing a shelf purely for corporate governance reasons, so that Neonode has financial flexibility in line with comparable companies," said Thomas Eriksson, Chief Executive Officer of Neonode.

After the shelf registration statement becomes effective, Neonode may offer and sell shares of common stock covered by the registration statement through one or more methods of distribution, subject to market conditions and Neonode's capital needs. The terms of any offering under the shelf registration statement will be established at the time of such offering and will be described in a prospectus supplement filed with the SEC prior to completion of the offering.

Registration statements relating to the securities described in this press release have been filed with the SEC but have not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time the respective registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Any offering of the securities covered under the registration statements will be made solely by means of a prospectus and any accompanying prospectus supplement relating to that offer.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements relating to expectations, future performance or future events, and product cost, performance, and functionality matters. These statements are based on current assumptions, expectations and information available to Neonode management and involve a number of known and unknown risks, uncertainties and other factors that may cause Neonode's actual results, levels of activity, performance or achievements to be materially different from any expressed or implied by these forward-looking statements.

These risks, uncertainties, and factors are discussed under "Risk Factors" and elsewhere in Neonode's public filings with the Securities and Exchange Commission from time to time, including Neonode's most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. You are advised to carefully consider these various risks, uncertainties and other factors. Although Neonode management believes that the forward-looking statements contained in this press release are reasonable, it can give no assurance that its expectations will be fulfilled. Forward-looking statements are made as of today's date, and Neonode undertakes no duty to update or revise them.

About Neonode

Neonode Inc. (NEON) develops and licenses MultiSensing touch technologies, allowing companies to differentiate themselves by making high performing touch solutions at a competitive cost. Neonode provides user experiences that offer significant advantages for OEMs, including state-of-the-art touch technology features such as low latency pen or brush sensing, high speed scanning, proximity-, pressure-, and depth-sensing capabilities, and object-size measuring.

Neonode's patented MultiSensing technology is developed for a wide range of devices such as mobile phones, tablets and e-readers, toys and gaming consoles, printers, home appliances, wearable goods, and advanced automotive infotainment systems.

For more information, please visit www.neonode.com.

(c) 2014, Neonode Inc. All rights reserved. Neonode, the Neonode logo, MultiSensing, and zForce are trademarks of Neonode Inc. registered in the United States and other countries. Liquid Sensing, It Makes Sense and AlwaysON are trademarks of Neonode Inc.

CONTACT: Investor Relations: Daniel Gelbtuch P: +1 917.509.9582 Email: daniel.gelbtuch@neonode.com

Source:Neonode Inc.