The company has received consent from shareholders representing 53.3% of its outstanding shares for the offering. Legible plans to enhance its board and leadership to support its growth phase. The company is recognized for its platform, LegibleOS™, which integrates AI content management and offers interactive digital books. Legible is also pioneering in automotive infotainment, enabling in-car reading experiences. The offering is expected to close on April 3, 2025, and may include a lead investment of $1.2 million, subject to a minimum $2 million close.
Key takeaways:
- Legible Inc. announced a $4M financing round with strategic lead investment and capital structure enhancements.
- The offering consists of Units priced at $0.03 each, including one common share and one common share purchase warrant.
- The net proceeds will support technology development, marketing, user acquisition, and debt-to-equity conversions.
- Legible aims to accelerate growth with global distribution partnerships and innovative products, including AI-powered infotainment apps.