JACKSONVILLE, Fla., July 30, 2018 (GLOBE NEWSWIRE) -- ParkerVision, Inc. (Nasdaq: PRKR ), a developer and marketer of semiconductor technology solutions for wireless applications today announced that over the next week it will launch a national television campaign for its Milo Wi-Fi products and that in support of the Milo campaign the Company has entered into a $2,000,000 securities purchase agreement with Aspire Capital Fund, LLC. Under the July 26, 2018 agreement the Company has received $975,000 and expects to receive the balance after a registration statement relating to the transaction is declared effective by the U.S. Securities and Exchange Commission (“SEC”). Details of the securities purchase agreement are set forth in the Company’s Current Report on Form 8-K filed today with the SEC.
ParkerVision Chief Executive Officer Jeffrey Parker said, “Within a week we will expand our Milo Wifi sales and marketing with a national television campaign. The campaign will air on a number of popular cable channels nationwide and is designed to significantly increase brand awareness and stimulate revenue growth for our Milo products. We believe consumers will find the offering of our Milo Wifi single, two, and three packs very attractively priced and we will also be introducing our Milo Wifi smart plug.
Steven G. Martin, Managing Member of Aspire Capital stated, “Aspire Capital is very pleased to increase our investment in ParkerVision under this new securities purchase agreement. We are extremely excited to see the results from the upcoming national television marketing campaign for Milo. We anticipate strong interest in Milo products from consumers across the country over the coming weeks and months. We are also very excited about ParkerVision’s exceedingly strong patent portfolio and the Company’s upcoming milestones in its’ patent enforcement activities.”
ParkerVision also today announced that there are a number of important near-term milestones in its on-going defense of the Company’s patent rights against unauthorized users of ParkerVision’s technologies. These milestones include:
| First, a hearing on August 7, 2018 at the United States Court of Appeals for the Federal Circuit on the Inter Partes Review (IPR) decision of the validity of the Company’s ‘940 patent by the U.S. Patent Trial and Appeal Board. This is one of several patents asserted in an infringement case filed by the Company in 2014 against Qualcomm Incorporated (“Qualcomm”) and HTC Corporation which has been stayed. After resolution of this IPR decision the Company expects to request the United States district court to lift the stay on this case so it can proceed. Second, on August 31, 2018, there is a scheduled Markman hearing in Jacksonville, Florida in the Company’s patent infringement case against Qualcomm and Apple, Inc. (“Apple”). Third, on October 17, 2018, a hearing will be held in Munich, Germany on the validity challenge to the Company’s ‘831 patent, the successful outcome of which can result in injunctions against Apple and LG Corporation. Fourth, the Company is awaiting guidance from the Munich Court regarding the timing and steps to final resolution of its patent infringement case in Germany against Apple for infringement of the Company’s ‘853 patent, which is anticipated to occur in the near-term. |
This news release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such offer, solicitation or sale is unlawful.
About ParkerVision, Inc. ParkerVision, Inc. designs, develops and markets its proprietary radio-frequency (RF) technologies, which enable advanced wireless solutions for current and next generation communications networks. Currently developing several new products to enhance Wi-Fi connectivity for small businesses and consumers, ParkerVision has recently unveiled a family of products under the Milo™ brand that leverages existing Wi-Fi infrastructure to create more optimal Wi-Fi configuration and superior coverage. For more information please visit www.parkervision.com . (PRKR-G)
About Aspire Capital Fund, LLC Aspire Capital is an institutional investor based in Chicago, Illinois, with a fundamental investment approach. Aspire Capital invests in a wide range of companies and industries emphasizing life sciences, energy and technology.
Safe Harbor Statement This press release contains forward-looking information. Readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speaks only as of the date made. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's SEC reports, including the Form 10-K for the year ended December 31, 2017 and the Form 10-Q for the quarter ended March 31, 2018. These risks and uncertainties could cause actual results to differ materially from those currently anticipated or projected.
Cindy Poehlman Chief Financial Officer ParkerVision, Inc. 904-732-6100, cpoehlman@parkervision.com
Jean Young The Piacente Group 212-481-2050 parkervision@tpg-ir.com
