On July 6, 2021, software solutions provider BSQUARE Corp (NASDAQ: BSQR) entered into a Side Letter with B. Riley Securities, Inc to sell shares having an aggregate offering price of up to $50 million under the company’s Form S-3 filed on March 18.
The Side Letter was in connection with At Market Issuance Sales Agreement dated April 2.
On April 2, the company inked the agreement with B. Riley Securities, Inc to sell shares of the having an aggregate offering price of up to $25 million through an “at the market offering” program.
It sees revenue guidance between $10.6 million - $10.8 million for the three months ended June 30, including $9.9 million - $10.0 million in Partner Solutions revenue and $0.7 million - $0.8 million in Edge to Cloud revenue. It expects an operating loss for the quarter.
It sold an estimated 5 million shares for $23.9 million under the previous offering between June 30 and July 6.
The Small Business Administration (SBA) authorized complete forgiveness of its $1.6 million Paycheck Protection Program (PPP) Loan.
The stock has gained 364% year-to-date.
Price action: BSQR shares traded lower by 25.5% at $5.25 on the last check Wednesday.
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