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UniPixel Enters into Equity Purchase Agreement with L2 Capital, LLC

Company is offering up to approximately 13.1 million shares of common stock in an indirect primary offering.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

UniPixel, Inc. announced entering into an equity purchase agreement with L2 Capital, LLC, a Kansas limited liability company. The Company is offering up to approximately 13.1 million shares of common stock in an indirect primary offering consisting of an equity line of credit.
 
Under the terms of the equity purchase agreement, UniPixel has the right to “put,” or sell, up to 13.1 million shares of common stock to L2 Capital for an investment amount (subject to adjustment) based upon a per share price equal to the greater of (i) $0.36 or (ii) 90% of the market price quoted for UniPixel common stock. Pricing will be based on the five-day volume weighted average price following the put notice.
 
Term of the agreement is through July 9, 2018.
 
 

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