Peraso Inc. announced on November 5, 2024, the entry into definitive agreements for the immediate exercise of certain outstanding Series B warrants. These warrants, originally issued in February 2024, were exercised to purchase an aggregate of 2,246,030 shares of common stock.
The exercise was conducted at a reduced price of $1.30 per share, generating approximately $2.9 million in gross proceeds for the company. This capital raise provides a significant boost to Peraso's cash position.
This financing activity is a critical step in addressing Peraso's liquidity challenges and supporting its operational needs. The proceeds will help fund the company's strategic pivot to mmWave technology and its ongoing business plan.
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