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Press Release

Neonode Announces $13.9 Million Private Placement

Press Release

STOCKHOLM, SWEDEN, August 5, 2020 — Neonode Inc. (NASDAQ: NEON), today announced it has entered into definitive agreements with institutional and accredited investors, including insiders of the Company, for the private placement of $13.9 million of Neonode’s common stock and convertible preferred stock (the “Private Placement”). Pursuant to the terms of the Private Placement, Neonode has agreed to sell an aggregate total of 1,611,845 shares of common stock (the “Common Shares”) at a price of $6.50 per Common Share, and 3,415 shares of convertible preferred stock (the “Convertible

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