Santa Clara, Calif. – Neonode, a Santa Clara, Calif.-based developer of optical touch screen technology used in hand-held devices, has priced a $16 million public offering.

Neonode will sell 3 million shares, in addition to another 1 million by chairman Per Bystedt and chief executive officer Thomas Eriksson, for $4 each.

The offering is expected to close on Dec. 13, with the company using the anticipated net proceeds of $11.2 million primarily for general corporate purposes, including capital expenditures and working capital.

This article was also published in Bay Area Tech Wire.

Related links:

Press release –