ANN ARBOR, Mich., Feb. 17, 2015 /PRNewswire/ — Pixel Velocity Incorporated (“Pixel Velocity” or the “Company”), an image processing and data analytic product company that helps provide safety, security and operational continuity solutions to commercial and government facilities of strategic and financial importance, has raised approximately $10,000,000 through the sale of shares of Series B Preferred Stock in a Regulation D private placement. CEO Matthew Van Haaren commented “We are very pleased to have successfully completed our Series B Preferred financing, which not only brings us the capital needed to pursue our business plan, but has also added valuable new skills and perspectives to our Board of Directors. We are excited about the future of Pixel and the opportunities that this new capital has opened up for us.”
Proceeds of the offering will fund the Company’s growth and operations, add to working capital and be used for general corporate purposes. The Company retained Daroth Capital Advisors LLC as its exclusive financial advisor and placement agent to sell the Series B Convertible Preferred Stock.
About Pixel Velocity Incorporated
Pixel Velocity® builds imagery and data analytic tools that protect our customer’s safety, security and environment from intentional, accidental and natural threats. Whether maintaining safety or improving operational efficiency, Pixel Velocity’s products enable rapid and informed decision making. From leak, spill and intrusion detection to situational awareness and response, Pixel Velocity provides configurable software solutions and sensor systems for the most demanding operational environments. Through its world class team of subject matter experts and field-proven solutions, Pixel Velocity has an unparalleled understanding of how to empower enterprises to leverage imagery and data to manage risk. Additional information on Pixel Velocity’s full line of products and services can be found at its website, www.pixel-velocity.com.
About Daroth Capital Advisors
Daroth Capital Advisors LLC provides a full array of financial advisory services to companies, financial sponsors and institutional investors, including advice regarding M&A transactions, financings, and strategic planning. Daroth is a member of FINRA and SIPC, and is registered with the SEC as a broker-dealer (www.daroth.com). For more information regarding this transaction, please contactPeter Rothschild at (212) 687-2500.
Some of the statements in this Release constitute forward-looking statements. These statements relate to future events or the Company’s anticipated future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of such terms and other comparable terminology. These statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements.
Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievements. All forward-looking statements should be read with extreme caution with the understanding that many factors both within and outside the control of the Company and its management will likely lead to future results, levels of activity, performance or achievements materially different from those projected or anticipated at this time.
For more information please contact:
Chief Operating Officer and Chief Financial Officer
Pixel Velocity Incorporated
3917 Research Park Drive, Suite 1B
Ann Arbor, MI 48108