Data I/O Announces Proposed $13.25 Million Securities Offering
Data I/O entered into a securities purchase agreement for a $13.25 million private placement of convertible subordinated debentures, common shares, and non-voting preferred shares. The five-year debentures bear interest at 5% in year one, stepping up 1% annually, with $7.25 million converting to common and $4.0 million to preferred at an underlying conversion price of $2.68 per common share. The June 2026 lead investor committed an additional $4.0 million.
Key figures
- Deal Value Usd
- 13250000
- Offering Price
- 2.68
- Coupon
- 5% year 1, increasing 1% per year
- Debenture term
- 5 years
- S1 filing deadline
- within 30 days of closing
- Special meeting window
- within 120 days of closing
- Common conversion amount
- 7250000
- Lead investor commitment
- 4000000
- Preferred conversion price
- $1,000 per share of preferred stock
- Preferred conversion amount
- 4000000
AI analysis
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