Neonode announces 1.98M-share stock offering, shares -7.3% AH

|By:, SA News Editor

Neonode (NEON) is issuing 1M new shares, and selling the rest on behalf of execs and directors, including chairman Per Bystedt, CEO Thomas Eriksson, and CFO David Brunton. (PR)

The touch gesture tech developer says it will use the proceeds from the newly-issued shares for "general corporate purposes, including capital expenditures and working capital."

News of the offering comes with shares having closed trading today up 44% YTD.