Peraso Enters Into up to $25 Million Committed Equity Facility

Peraso (PRSO) said late Thursday it has entered into a committed equity facility with Roth Principal Investments, to issue and sell up to $25 million of its common shares to RPI. Peraso said it intends to use any net proceeds for working capital and general corporate purposes, including product development and expansion into the drone, defense and tactical communications markets. It may not be able to sell the full $25 million of shares available under the facility due to limitations, including the number of shares registered for resale and applicable Nasdaq rules, the company added.