Data I/O plans $13.25M private placement of debentures and shares

Data I/O Corporation (NASDAQ: DAIO) has entered into a securities purchase agreement for a private placement of approximately $13.25 million, according to a company statement. The offering includes convertible subordinated debentures and common shares and is expected to close within days, subject to customary closing conditions.

The debentures carry a five-year term with an interest rate of 5% in the first year, increasing by 1% annually thereafter. Of the total raise, $7.25 million will convert automatically into common stock at $2.68 per share. The remaining $4.0 million will be issued as preferred shares at $1,000 per share, which are non-voting and convertible into common stock at $2.68 per share.

The lead investor from Data I/O's June 2026 private placement has committed $4.0 million of the new round.

The company plans to hold a special shareholder meeting within 120 days of closing to seek approval for the issuance of common stock exceeding 19.9% of shares outstanding. Data I/O has also agreed to file a registration statement on Form S-1 within 30 days of closing.

The securities have not been registered under the Securities Act of 1933 and may not be offered or sold without registration or an applicable exemption.

You May Also Be Interested In

• Microsoft to offer buyouts to 60,000 workers in cost-cutting move - Bloomberg
• Freeport-McMoran (FCX) call put ratio 6.7 calls to 1 put into quarter results
• Stagwell acquires Freestar, a publisher ad monetization firm