INSEEGO CORP. (NASDAQ:INSG) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02

On March 31, 2020, Inseego Corp. (the “Company”) issued 2,330 shares of Series E Preferred Stock to South Ocean Funding, LLC (“South Ocean”), the Lender holding all of the aggregate principal amount currently outstanding under that certain Credit Agreement, dated August 23, 2017, as the same has been amended, supplemented or otherwise modified from time to time, by and among the Company, certain subsidiaries of the Company party thereto, Cantor Fitzgerald Securities, as Agent, and certain lenders party thereto (the “Credit Agreement”) in satisfaction of certain deferred interest obligations to the terms and conditions of the Credit Agreement. The Series E Preferred Stock was issued in a transaction exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), in reliance on Section 4(a)(2) thereof. South Ocean represented that is was an “accredited investor” and was acquiring the securities for investment only and not with a view towards, or for resale in connection with, the public sale or distribution thereof. Accordingly, the securities have not been registered under the Securities Act and they may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act and any applicable state securities laws.