Financing ·
Data I/O Corporation closed a $9 million private placement with Lytton-Kambara Foundation and Alice W. Lytton Family…
DAIOData I/O Corp
Data I/O Corporation closed a $9 million private placement with Lytton-Kambara Foundation and Alice W. Lytton Family LLC, involving the issuance of 869,840 shares of common stock, $6,825,400 in convertible debentures, and warrants for 1,080,000 shares. The five-year Note bears 4.0% interest per annum, payable semiannually, and may convert to Series B Convertible Preferred Stock at $1,000 per share. The warrants are exercisable at $3.00 per share for five years. Data I/O Corporation is a provider of semiconductor testing and data management solutions.