AudioEye stockholders cash in as secondary offering prices are revealed

In Tucson, Arizona on December 5, 2024, AudioEye, Inc., a digital accessibility company, announced the pricing of an underwritten secondary offering of common stock. The company is offering up to 1,250,000 shares for sale by certain stockholders at a public price of $24.00 per share. The offering is scheduled to close on December 6, 2024, contingent upon customary closing conditions. Needham & Company serves as the Sole Book-Runner, while Roth Capital Partners acts as the Lead Manager for this offering. The secondary offering does not involve the sale of shares by AudioEye itself, which means the company will not receive any proceeds from this transaction. Instead, all net proceeds will go to the selling stockholders. Additionally, the underwriters have a 30-day option to purchase up to an additional 187,500 shares at the same public offering price, a typical provision that provides flexibility in case of heightened demand. AudioEye's registration statement was previously filed with the Securities and Exchange Commission and became effective on February 13, 2024. A preliminary prospectus supplement outlining further details regarding the current offering has been filed and is accessible on the SEC's website. As with any public offering, this initiative aims to provide liquidity to stockholders while enabling continued operational efforts by the company. The announcement also highlights the importance of transparency and compliance with regulatory standards, as such offerings must adhere to strict securities regulations. Given the current market dynamics, including interest in digital accessibility solutions, the company's decision to move forward with this offering might reflect its commitment to enhancing its market position while accommodating the interests of its existing investors.