AudioEye, Inc. (OTCQB: AEYE), a Tucson, Ariz.-based provider of cloud-based software-as-a-service (SaaS) digital content accessibility solutions, closed a private placement of 26,000,000 shares of common stock for an aggregate purchase price of approximately $6,500,000, or $0.25 per share.
The first tranche of 24,800,000 shares is being issued today for an aggregate purchase price of $6,200,000 funded immediately and the second tranche of 1,200,000 shares is being issued on or about August 20, 2018 for an aggregate purchase price of $300,000.
This financing will enable the company to further its progress on a number of fronts, including business growth strategies and anticipated uplisting to Nasdaq.
Led by by Todd Bankofier, Chief Executive Officer, and Dr. Carr Bettis, Executive Chairman, AudioEye is a technology company serving businesses committed to providing equal access to their digital content. Through patented technology, subject matter expertise and proprietary processes, the company identifies and resolves issues of accessibility and enhances the user experience, making digital content more accessible and more usable for more people.