Benzinga | Feb 17, 2021 08:44AM EST

MoSys Announces Registered Direct Offering Of 1,487,601 Shares At $5/Share

SAN JOSE, CA / ACCESSWIRE / February 17, 2021 / MoSys, Inc. (NASDAQ:MOSY) is focused on Accelerating Data Intelligence and provides both semiconductor and IP solutions that enable fast, intelligent data access for Cloud, networking, security and communications systems, today announced that it has entered into a definitive agreement with institutional investors for the purchase and sale of 1,487,601 shares of its common stock at a price of $5.00 per share for gross proceeds of approximately $7.4 million in a registered direct offering priced at-the-market under Nasdaq rules. MoSys intends to use the proceeds for working capital, repayment of debt and general corporate purposes. The offering is expected to close on or about February 19, 2021, subject to the satisfaction of customary closing conditions.