Tactual Labs Co. Announces Closing Of U.S. $10 Million Convertible Note Financing

NEW YORK, March 12, 2020 /PRNewswire/ -- Tactual Labs Co.^® ("Tactual^®" or the "Company") today announced that it has closed a US $10 million private placement in the form of convertible notes.

"This financing demonstrates our access to long-term capital partners committed to scaling Tactual's vehicle and consumer sensing platforms," commented Tactual CEO & Chairman Steven Sanders. "This investment in our business reflects the value of our product and patent portfolio. It also underscores the opportunity for Tactual's sensing platforms to enable seats, steering, and input devices that understand and respond to changes in shape or body pose."

Tactual's cockpit sensing products are user experiences enabled by proprietary sensors and software that empower seats, wheels, and handlebars with an awareness of body pose and biometrics to provide streamlined, seamless user input controls for assisted and autonomous vehicles, as well as body-aware position, heating, ventilation, massage, and safety adjustments.

Tactual's consumer sensing products use proprietary sensors and software to track changes in their shape and in their user's body pose to provide more expressive input controls for ubiquitous computing.

Proceeds from this financing will be used to expand the distribution of Tactual's sensing platforms and to develop new Tactual products.

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 the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Tactual

Tactual Labs Co. builds sensing platforms that optimize human productivity, wellness, and safety through a richer understanding and more informed response to human and environmental dynamics.

For more information, please visit www.TactualLabs.com or contact investor relations at [email protected].

Forward-Looking Information

This news release contains forward-looking information based on current expectations. Forward-looking information is provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. There can be no assurance that that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Tactual assumes no responsibility to update forward-looking information to reflect new events or circumstances unless required by applicable law.

SOURCE Tactual Labs Co.

Related Links

http://www.TactualLabs.com