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Oblong signs contract with institutional investors: $7.5 million private sale funds will be directed towards Bittensor Blockchain AI strategy
According to Businesswire, Nasdaq-listed Oblong, Inc., a technology service provider for IT solutions, announced that it has entered into a securities purchase agreement with institutional investors, and Dawson James Securities acted as 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, with the net proceeds of the offering reportedly used to launch Layer 1 Blockchain Bittensor-centric AI and digital asset strategy.