JACKSONVILLE, Fla., July 07, 2016 (GLOBE NEWSWIRE) -- ParkerVision, Inc. (Nasdaq:PRKR), a developer and marketer of semiconductor technology solutions for wireless applications, today announced the closing of a sale, in a private placement transaction, of 1,090,909 shares of common stock at a purchase price of $2.75 per share for total gross proceeds of approximately $3 million. The shares were sold to an accredited investor (“Investor”) under a securities purchase agreement signed on July 6, 2016.

The securities purchase agreement contains customary representations and warranties and covenants of ParkerVision and the Investor. The shares were offered and sold solely to the Investor on a private placement basis. ParkerVision will register the shares purchased by the Investor under the Securities Act of 1933, as amended (“Securities Act”) for resale by the Investor. ParkerVision has committed to file the registration statement by the 20th calendar day following the closing of the sale of the shares.

Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT:LTS) acted as placement agent in connection with the offering.

The shares being offered have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About ParkerVision

ParkerVision, Inc. designs, develops and markets its proprietary radio-frequency (RF) technologies, which enable advanced wireless solutions for current and next generation communications networks. Protected by a highly-regarded, worldwide patent portfolio, the Company’s solutions for wireless transfer of RF waveforms address the needs of a broad range of wirelessly connected devices for high levels of RF performance coupled with best-in-class power consumption. For more information please visitwww.parkervision.com. (PRKR-G).