RealNetworks Inc. (NASDAQ: RNWK) stock plunged by 24.93% at last close whereas the RNWK stock soars by 3.91% in the pre-market trading session. RealNetworks has developed a new generation of products based on a legacy of digital media experience and creativity, using the best-of-the-breed artificial intelligence and machine learning for the improvement and protection of our everyday lives. Real’s market and product portfolio consist of a Kontxt semantic analysis system and SAFR, the world’s leading platform for live video facial recognition.
On 27 April 2021 RNWK reported that, in accordance with its current registration statement, it had priced a previously announced underwritten public offering for total revenue of $22,275,000 for an amount of 8,250,000 shares of its common stock at a public price of $2.70. Also offering a 30 days option, RealNetworks has issued an additional 1,237,500 common stock shares, minus subscription discounts and commissions, for cover, if any, over-allotments, to the subscriber.
RealNetworks expects the operating capital and general corporate purposes to use the net proceeds of its offering. This offer should end on or around 29 April 2021 if the usual closing conditions are met. LLC acts as the only book-running manager for the Lake Street Capital Markets.
On April 26, 2021
RNWK has announced that it has received its third SBIR contract. Because of this contract, SAFR will develop its platform of computer vision to support perimeter security and household search and rescue missions. With SBIR, SAFR will upgrade the platform to run on a UGV device based in NVIDIA Jetson AGX Xavier. A force multiplier and a security layer for defense and civil security and emergency personnel are provided by the addition of SAFR-based AI analyzes on autonomous and semi-autonomous Robotic vehicles.