MINNEAPOLIS, Sept. 13, 2012 (GLOBE NEWSWIRE) -- Wireless Ronin Technologies, Inc. (Nasdaq:RNIN), a leading marketing technologies provider, today announced that it has entered into agreements to sell approximately $1.4 million of its common stock in a registered direct offering. Pursuant to these agreements, the company will issue 1,738,452 shares of common stock at $0.81 per share. The company expects net proceeds of approximately $1.2 million, which it plans to use for general corporate purposes, including working capital. The closing of the offering is expected to take place on or about September 18, 2012, subject to customary closing conditions.
Roth Capital Partners, LLC acted as the Company's placement agent for the transaction.
The shares are being offered by the company pursuant to a shelf registration statement filed with the Securities and Exchange Commission (the "SEC"), which was declared effective on September 29, 2009. A prospectus supplement and accompanying base prospectus relating to the offering will be filed with the SEC. Copies of the prospectus supplement and accompanying base prospectus may be obtained from the SEC's website at http://www.sec.gov or from Roth Capital Partners, LLC, Equity Capital Markets, 888 San Clemente Drive, Newport Beach, CA 92660 (telephone: 800-678-9147; e-mail: rothecm@roth.com). This press release is neither an offer to sell nor a solicitation of an offer to buy any shares of common stock. No offer, solicitation or sale will be made in any jurisdiction in which such offer, solicitation or sale is unlawful. The shares of common stock may only be offered by means of a prospectus.
About Wireless Ronin Technologies, Inc.
Wireless Ronin Technologies (WRT) (www.wirelessronin.com) is a marketing technologies company with leading expertise in current and emerging digital media solutions, including signage, interactive kiosks, mobile, social media and web, that enable clients to transform how they engage their customers. WRT provides marketing technology solutions and services to clients, helping increase revenue and improve operating efficiencies to execute marketing initiatives. Since launching RoninCast(R) digital signage software in 2003, WRT has led the digital signage industry by bringing leading edge technology, services and support to its clients. WRT offers an array of services to support its clients' marketing technology needs including consulting, creative development, project management, installation, training, and support and hosting. The company's common stock trades on the NASDAQ Capital Market under the symbol "RNIN." Follow us on Twitter (http://twitter.com/#!/wirelessronin) and Pinterest (http://pinterest.com/rnin/) and like us on Facebook under Wireless Ronin.
The Wireless Ronin Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3208
Forward-Looking Statements
This release contains certain forward-looking statements of expected future developments, as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding the completion, timing and size of the offering and reflect management's expectations based on currently available data. Such statements are subject to future risks and uncertainties, including risks and uncertainties related to market conditions and the company's ability to meet the conditions necessary to consummate the offering on the anticipated terms, or at all. The company's actual performance could also differ significantly from those expressed in any forward-looking statement and be materially affected by risks and uncertainties including, but not limited to, the following: estimates of future expenses, revenue and profitability; the pace at which the company completes installations and recognizes revenue; trends affecting financial condition and results of operations; ability to convert proposals into customer orders; the ability of customers to pay for products and services; the revenue recognition impact of changing customer requirements; customer cancellations; the availability and terms of additional capital; ability to develop new products; dependence on key suppliers, manufacturers and strategic partners; industry trends and the competitive environment; and the impact of losing one or more senior executives or failing to attract additional key personnel. These and other risk factors are discussed in detail in the risk factors section of the company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 21, 2012.