Identiv completed the second closing of a private placement, repaid the remaining $5 million payable under its term loan, and reported final voting results from the 2018 Annual Meeting of Stockholders

FREMONT, Calif., June 5, 2018 — Identiv, Inc. (the “Company”) filed a Form 8-K on June 5, 2018 to disclose certain events:

The Company completed the second closing of a private placement of 2,000,000 shares (the “Second Closing Shares”) of the Company’s Series B Non-Voting Convertible Preferred Stock, $0.001 par value per share (the “Series B Preferred Stock”), at a price of $4.00 per share, to 21 April Fund, LP and 21 April Fund, Ltd. (together, the “Purchasers”). The sale of the Second Closing Shares was made pursuant to the terms of the Securities Purchase Agreement (the “Purchase Agreement”) dated as of December 21, 2017. Gross proceeds to the Company from the Second Closing Shares were approximately $8.0 million, before deducting fees and certain expenses payable by the Company.

The Company repaid the remaining amounts payable under its $10.0 million principal amount term loan under a Loan and Security Agreement (the “Loan and Security Agreement”) with Venture Lending & Leasing VII, Inc. and Venture Lending & Leasing VIII, Inc. (collectively referred to as “VLL7 and VLL8”). The Company paid to VLL7 and VLL8 approximately $5.2 million, consisting of $4.6 million in outstanding principal, and $0.6 million of accrued and unpaid interest outstanding at the prepayment date together with all the scheduled interest that would have accrued and been payable through the stated maturity of the term loan.

The Company disclosed the final results for each of the matters submitted to the stockholders at the Company’s 2018 Annual Meeting of Stockholders, which was held on May 31, 2018. All matters submitted were approved by the Stockholders.

The foregoing descriptions do not purport to be complete and are qualified by reference to the full text of the Current Report on Form 8-K filed by the Company on June 5, 2018, as well as relevant documents filed as exhibits to the Form 8-K or incorporated therein by reference.

Download the full Form 8-K on the SEC’s website

Investor Relations Contact:
Matt Glover and Najim Mostamand, CFA
Liolios Group, Inc.