Paul Hastings Represents Novatel Wireless, Inc. in a Private Offering of Common Stock, Preferred Stock and Warrants

September 09, 2014

San Diego, CA  - Paul Hastings LLP, a leading global law firm, announced today that the firm represented Novatel Wireless, Inc., a leading provider of Internet of Things, in a private offering of (a) 7,363,334 shares of its common stock at a price of $1.75 per share, (b) 5-year warrants to purchase an additional 4,117,647 shares of common stock at an exercise price of $2.26 per share and (c) 87,196 shares of Series C Convertible Preferred Stock at a price of $17.50 per share, with each share being convertible into 10 shares of the Company’s common stock upon the satisfaction of certain conditions.  The gross proceeds to Novatel from the offering were approximately $14.4 million, not including any future proceeds from the exercise of warrants. The gross proceeds do not include deductions for estimated offering expenses.

Novatel currently intends to use the net proceeds from the offering, excluding any future proceeds from the exercise of the warrants, to fund working capital and for other general corporate purposes.

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and led the Paul Hastings team, which also included senior associate and associates and .

Paul Hastings LLP is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.

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