Securities under the registration statement may be sold over a 3 year time period
JACKSONVILLE, Fla., Jan. 5 /PRNewswire-FirstCall/ -- PARKERVISION, INC. (Nasdaq: PRKR), today announced that it intends to file a shelf registration on Form S-3 with the Securities and Exchange Commission. After the registration statement becomes effective, ParkerVision may, from time to time over a 3 year period, sell up to $25 million of its common stock, preferred stock, debt securities, and/or warrants (collectively, the "Securities"). The shelf registration statement is intended to provide ParkerVision flexibility to raise funds from the offering of Securities, subject to market conditions, which may be used to fund working capital, acquisitions, vendor purchases, and other capital needs.
Jeffrey Parker, CEO of ParkerVision, commented, "We believe having registered Securities available will provide us with the flexibility to raise funds selectively over a period of time. In addition to providing for working capital, this will allow us to take advantage of business opportunities as they arise over the next few years. We also believe that having registered securities available enables us to attract both quality strategic as well as financial investors."
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state.
ParkerVision, Inc. designs, develops and sells its proprietary RF technologies which enable advanced wireless communications for current and next generation mobile communications networks.
Its solutions for wireless transfer of radio frequency (RF) waveforms enable significant advancements in wireless products, addressing the needs of the cellular industry for efficient use of power, reduced cost and size, greater design simplicity and enhanced performance in mobile handsets as the industry migrates to next generation networks.
ParkerVision is headquartered in Jacksonville, Florida. (PRKR-G)
Safe Harbor Statement
This press release contains forward-looking information. Readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speaks only as of the date made. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's SEC reports, including the Form 10-K for the year ended December 31, 2007 and the Forms 10-Q for the quarters ended March 31, June 30 and September 30, 2008. These risks and uncertainties could cause actual results to differ materially from those currently anticipated or projected.
SOURCE ParkerVision, Inc.