Peraso Inc. - $PRSO STOCK NEWS

Peraso Inc. (NASDAQ:PRSO) has announced the pricing of its underwritten public offering of shares of common stock, pre-funded warrants, Series A warrants, and Series B warrants. Ladenburg Thalmann & Co. Inc. is acting as the sole book-running manager for the Offering. Each share of common stock and each pre-funded warrant is being sold together with one Series A warrant to purchase two shares of common stock and one Series B warrant to purchase two shares of common stock. The Series A warrants have an exercise price of $2.25 per share and will expire five years following the date of issuance. The Series B warrants have an exercise price of $2.25 per share and will expire six months following the date of issuance. The pre-funded warrants will be immediately exercisable at a nominal exercise price of $0.001 per share. The combined public offering price of each share of common stock, together with the accompanying Series A warrant and Series B warrant, is $2.10, less underwriting discounts and commissions. The combined public offering price of a pre-funded warrant, together with the accompanying Series A warrant and Series B warrant, is $2.099, less underwriting discounts and commissions. The Offering is expected to close on or before February 10, 2024.

Peraso Inc. (NASDAQ:PRSO) announced the first purchase order for its Perspectus mmWave antenna modules, validating its ability to deliver affordable gigabit wireless to underserved markets. The DUNE platform implements intelligent Media Access Control features, enabling wireless Internet service provider (WISP) operators to deploy long-range, multi-point networks without interference in dense user environments. Peraso's latest mmWave antenna module, the PRM2144X, is specifically designed for dense urban areas, providing high gain, narrow beamwidth, and extremely low antenna side-lobes. The increased gain and range also benefit suburban and rural deployments, eliminating the need for dish antennas in many cases.

Peraso Inc. (NASDAQ:PRSO) has regained compliance with the Nasdaq Capital Market's minimum bid price continued listing requirement, with a closing bid price of its common stock in excess of the $1.00 minimum requirement for the last 10 consecutive trading days.

Peraso Inc. (NASDAQ:PRSO) announced the commercial availability of its DUNE platform for Fixed Wireless Access, addressing network access problems in urban areas. The platform expands the capabilities of their 60 GHz mmWave hardware to provide multi-gigabit connectivity in high population density environments. Peraso expects to leverage DUNE to increase sales of its Perspectus family of mmWave modules for FWA.

Peraso Inc. (NASDAQ:PRSO) announces a 1-for-40 reverse stock split of its outstanding common stock to increase the per share trading price and satisfy the $1.00 minimum bid price requirement for continued listing on Nasdaq.

Peraso Inc. (NASDAQ: PRSO) announced a new customer engagement, demonstrating the Company's ability to expand into new, high-growth consumer markets. The partnership involves the X130 chipset replacing the customer's current solution for wireless video distribution for indoor applications. The X130 offers support for high bandwidth, low latency applications, and circumvents Wi-Fi network congestion using mmWave technology. Peraso's X130 chipset employs the PRS1145 and PRS4601 integrated circuits to implement a low-cost, low-power, high-performance SuperSpeed USB 3.0 to 802.11ad 60 GHz mmWave system, providing multi-gigabit throughput with the ability to power applications such as wireless AR/VR, wireless displays, wireless docking, and wireless access to the cloud, which can now be much more effective and efficient using WiGig technology.

Peraso Inc. (NASDAQ: PRSO) announced an 87% sequential and 36% year-over-year increase in total revenue for Q3 2023. The company's GAAP gross margin expanded sequentially to 45.4%, and non-GAAP to 58.0%. The increase in revenue was primarily due to higher margin memory IC products and an increase in sales of millimeter wave (mmWave) products.

Peraso Inc., a global leader in mmWave technology, will release its Q3 2023 financial results on November 13, 2023. The conference call to discuss the results and business outlook will be held at 2:00 p.m. Pacific Time with CEO Ron Glibbery and CFO Jim Sullivan.

Peraso Inc. plans to attend and participate in a vendor spotlight speaking session at WISPAPALOOZA '23 to showcase its latest mmWave solutions for Fixed Wireless Access (FWA) and Customer Premise(s) Equipment (CPE). Representatives from Peraso will connect with customers and industry leaders at the event to explore new opportunities. Peraso's fully-integrated solutions deliver reliable multi-gigabit throughput across the mmWave spectrum, making their technology attractive to WISPs of all sizes. The Vendor Spotlight session is scheduled for October 10, 2023.