SOURCE: Wireless Ronin Technologies
MINNEAPOLIS, MN--(Marketwired - Dec 23, 2013) - Wireless Ronin Technologies, Inc. (OTCQB: RNIN), a leading marketing technologies provider, today announced that it has issued an aggregate of $1,075,000 in unsecured convertible promissory notes, along with warrants to purchase an aggregate of 1,075,000 shares of the company's common stock, in a private placement transaction with certain accredited investors. The notes mature two years after issuance, require the payment of interest at the rate of 4% per year (payable on maturity), and are convertible, at the holder's option, into unregistered shares of the company's common stock at a conversion price of $0.50 per share. The warrants are immediately exercisable, expire three years after issuance, have a cashless exercise feature, and may be exercised to purchase unregistered shares of the company's common stock at an exercise price of $0.75 per share. The company raised net proceeds at closing of approximately $1,025,000, which the company plans to use for general corporate purposes, including working capital.
About Wireless Ronin Technologies, Inc.
Wireless Ronin Technologies, Inc. (WRT) (www.wirelessronin.com) is a pioneering marketing technologies company. WRT combines interactive digital media -- signage, kiosks, mobile, social media and web -- to create 360-degree solutions so companies can "communicate at life speed" to deliver the right content at the right place at the right time. WRT's turnkey approach includes strategic consulting, creative development, installation, hosting, training and support. Since launching its cloud-based RoninCast® content management platform in 2003, WRT has become the leading digital marketing provider for large-scale deployments in retail, automotive, food service and public venues. The company is headquartered in Minneapolis, Minnesota; its common stock trades on the OTCQB as RNIN.