Oblong Shares Rise After Disclosing Proceeds from Warrants Sale

Dow Jones09-21

By Connor Hart

Shares of Oblong rose after the company disclosed net proceeds from a sale of warrants earlier this week.

The stock was up 15% to $4.33 in after-hours trading Friday. Shares ended the regular session down 7.8% to $3.77, putting them down 52% since the beginning of the year.

The Denver-based provider of collaboration solutions between Tuesday and Thursday received approximately $593,000 in net proceeds from the exercise of 188,933 common warrants at a price of $3.41 each, according to a filing with the Securities and Exchange Commission on Friday.

The company said it sold the warrants in exchange for 188,933 shares of common stock. As of Friday, it has about 1.1 million shares of common stock outstanding, and 545 shares of Series F Preferred Stock outstanding.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

September 20, 2024 17:27 ET (21:27 GMT)

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