OBLG News & Events

Oblong (OBLG) announced it has acquired an additional $1.65M of Bittensor ($TAO), bringing its total holdings to 9,963 tokens at an average price of $331 per token. The company has fully staked its entire position in the Bittensor network. This is the second in a series of planned investments as part of the company's High-Yield AI Treasury Strategy, and Oblong is continuing to evaluate additional purchases on a weekly basis.

Oblong announced it has entered into a securities purchase agreement to raise approximately $7.5M through the sale of 1,989,392 shares of common stock at $3.77 per share in a private placement priced at-the-market under Nasdaq rules. The offering, led by institutional investors focused on emerging technology, is expected to close on or about June 11, subject to customary closing conditions. Oblong is strategically allocating capital to enter the AI-driven digital asset space through the accumulation of $TAO, the native token of Bittensor-a decentralized intelligence protocol. The company's transition will be supported by software development initiatives that actively enhance this emerging ecosystem. Oblong is embracing the next evolution of the internet: permissionless intelligence.

Oblong announced its board authorized a stock buyback program to repurchase up to $500K of the company's common stock. The company said the program could enable it to repurchase up to approximately 25% of its 1.1M shares outstanding at current market prices. Oblong stated repurchases may be funded using its existing cash balance or future cash flows and may be made via open market, private transactions, or other means, including potential Rule 10b5-1 trading plans.