As part of its plan of compliance with NASDAQ, Inventergy Global, Inc. (NASDAQ: INVT) this morning priced a registered public offering of $1 per common stock and warrant for gross proceeds of approximately $6.0 million. The IP company said it plans to use the net proceeds of the offering to redeem a portion of its outstanding Series C and Series E preferred stock and to fund operations. Company management also expects that approximately $5.3 million of the public offering will result in the company’s stockholders’ equity exceeding the NASDAQ requirement of $2.5 million. The warrants are exercisable immediately and for a period of five years. The offering is expected to close on or about October 11, 2016.
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About Inventergy Global, Inc.
Inventergy Global, Inc. is a Silicon Valley-based intellectual property company dedicated to identifying, acquiring and licensing patented technologies of market-significant technology leaders. Led by IP industry pioneer and veteran Joe Beyers, the Company leverages decades of corporate experience, market and technology expertise, and industry connections to assist Fortune 500 companies and other technology companies in leveraging the value of their innovations to achieve greater returns. For more information about Inventergy, visit www.inventergy.com
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