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Inseego Announces $25M Investment By Mubadala

Inseego Corp. (NASDAQ:INSG), a pioneer of 5G and intelligent IoT device-to-cloud solutions, today announced that it has closed a $25 million private placement for the sale of Series E Preferred Stock to a

Benzinga · 03/10/2020 12:50

Inseego Corp. (NASDAQ:INSG), a pioneer of 5G and intelligent IoT device-to-cloud solutions, today announced that it has closed a $25 million private placement for the sale of Series E Preferred Stock to a private fund managed by Mubadala Investment Company's asset management arm, Mubadala Capital, as part of its public equities strategy. Mubadala Capital joins existing major investors Tavistock Group and North Sound Partners.

This investment strengthens Inseego's balance sheet and provides the company additional liquidity to continue capitalizing on the unprecedented global opportunity that 5G presents.