Brian Miller is Chief Investment Officer of North Sound Partners and General Partner of North Sound Ventures, which invests directly in early stage growth opportunities and helps companies create shareholder value. Prior to founding the North Sound group of companies, Brian spent over 20 years at Elliott Management, a New York-based hedge fund where he was an equity partner, Chief Trading Officer, and served on the management committee.
“Inseego is uniquely positioned for growth in attractive 5G, Cloud Telematics and IoT markets,” said Brian Miller. “As an existing investor, I have always recognized the technological strengths of Inseego. With the new management team led by Dan, I believe Inseego is poised to capture a substantial share of these markets going forward.”
Transaction Summary
Upon the closing of this transaction, the Company issued to the Investors a total of 12,062,000 units, at a purchase price of $1.63 per unit, with each unit consisting of a share of the Company’s common stock and a warrant to purchase an additional .35 of a share of the Company’s common stock at an exercise price of $2.52 per share. The terms of the transaction will be described in the SEC filing to be filed by the Company related to the transaction. The net proceeds from the transaction will be used to accelerate strategic investment, particularly opportunities related to the growing 5G and cloud IoT markets, and to strengthen the Company’s balance sheet.
Inseego will provide additional information during the Inseego Q2 2018 Quarterly Results call, Tuesday, August 7 at 5:00PM ET. For parties in the United States, call toll free1-844-881-0135 to access the conference call. International parties can access the call at1-412-317-6727.
About Inseego Corp.
Inseego Corp. (Nasdaq: INSG) enables high performance mobile applications for large enterprise verticals, service providers and small-medium businesses around the globe. Our product portfolio consists of Enterprise SaaS solutions and IoT & Mobile solutions, which together form the backbone of compelling, intelligent, reliable and secure IoT services with deep business intelligence. Inseego powers mission critical applications with a “zero unscheduled downtime” mandate, such as asset tracking, fleet management, industrial IoT, SD WAN failover management and mobile broadband services. Our solutions are powered by our key innovations in purpose built SaaS cloud platforms, IoT and mobile technologies including the newly emerging 5G technology. Inseego is headquartered in San Diego, California with offices worldwide. www.inseego.com
About Tavistock Group
Tavistock Group is an international private investment organization founded by Joe Lewis. With investments in more than 200 companies across 10 countries, Tavistock Group’s investment portfolio includes: life sciences, sports teams and sporting events, manufacturing and distribution, oil, gas and energy, financial services, restaurants, commercial properties, private luxury residential properties, resort properties and master-planned real estate developments. For more information, visit www.tavistock.com.
