Peraso raises $1.1 million through warrant exercise agreement

Peraso Inc. (NASDAQ: PRSO) announced it entered into an agreement for the immediate exercise of certain outstanding Series C warrants to purchase up to 952,380 shares of common stock at a reduced exercise price of $1.18 per share. The company expects to receive approximately $1.1 million in gross proceeds before deducting placement agent fees and offering expenses.

The warrants were originally issued by the mmWave wireless technology company in November 2024. Peraso plans to use the net proceeds for working capital and general corporate purposes.

In exchange for the immediate cash exercise of the existing warrants, Peraso will issue new unregistered Series E warrants to purchase up to 952,380 shares of common stock. The Series E warrants carry an exercise price of $1.25 per share and become exercisable six months from the date of issuance. These warrants have a term of five and one-half years from the initial exercise date.

Ladenburg Thalmann & Co. Inc. serves as the exclusive placement agent for the offering.

The shares issuable upon exercise of the existing warrants are registered under an effective Form S-3 registration statement. The Series E warrants were offered through a private placement and have not been registered under the Securities Act of 1933. Peraso has agreed to file a registration statement with the Securities and Exchange Commission covering the resale of shares issuable upon exercise of the Series E warrants.

The company develops mmWave wireless technology solutions for applications including fixed wireless access, military systems, and factory automation.

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