Nasdaq-listed company Oblong raises $7.5 million and launches digital asset strategy

PANews reported on June 9 that, according to Businesswire, Oblong, Inc., a NASDAQ-listed IT solutions technology service provider, announced that it had signed a securities purchase agreement with institutional investors, and Dawson James Securities acted as the placement agent for the offering, raising approximately $7.5 million through a private placement of 1,989,392 shares of common stock at a price of $3.77 per share. It is reported that the net proceeds from this offering will be used to launch an artificial intelligence and digital asset strategy centered on the Layer 1 blockchain Bittensor.