SANTA CLARA, Calif., Jan. 18, 2017 /PRNewswire/ -- UniPixel, Inc. (NASDAQ: UNXL), a provider of Performance Engineered Films™ to the touchscreen and flexible electronics markets, today announced that it has entered into a financing agreement for $3 million of convertible, redeemable Preferred shares. The fixed conversion price of the Preferred shares is set at $1.50, subject to potential adjustments which primarily do not arise until after 90 days. The financing agreement also includes 2,500,000 warrants priced at $1.50 which will have a single price-only reset feature after six months which will reset the warrant price to 93% of the lowest conversion price during the six-month period but will only reset if the price is below $1.50. All of the Preferred shares must be fully converted or redeemed within twelve months from closing. UniPixel has the right to convert any portion of the Preferred shares to the investor by the issuance of common stock so long as the company's stock price is at least $1.50, or, at any time, to redeem in cash equal to 125% of the financing. After the first 90 days, the investor will be permitted to convert the Preferred shares into shares of common stock at the investor's choice, at a price equal to 93% of the common share value on the day preceding any conversion. 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

The Benchmark Company acted as the sole placement agent for the transaction.

The offering of the common stock and warrants will be made under UniPixel's effective shelf registration statement (File No. 333-203691) declared effective by the U.S. Securities and Exchange Commission (the "SEC") on July 10, 2015.  UniPixel will file a prospectus supplement with the SEC for the offering to which this communication relates.  When available, the prospectus supplement and accompanying base prospectus, meeting the requirements of Section 10 of the Securities Act of 1933, as amended, may be obtained from The Benchmark Company at 150 East 58th Street, 17th Floor, New York, NY 10155 or by calling (212) 312-6700 or e-mail at [email protected], or by visiting the EDGAR database on the SEC's website located at http://www.sec.gov.