ParkerVision, Inc. announced that it has entered into a purchase agreement for a private placement of 8% unsecured convertible promissory notes for gross proceeds of $350,000on June 30, 2022. The transaction included participation from Forge Trust Company for $200,000, The Trustee of the Judson Dean LaCapra Revocable Trust for $25,000, individual investors John F. Levy for $100,000, Wilhem Boulay for $25,000. The notes bear interest at a fixed rate of 8% per annum and is payable quarterly either in cash, shares of common stock, or a combination thereof at the company's option, subject to certain equity conditions, on the 15th of April, July, October, and January of each year during the five year term of the notes, expiring June 30, 2027.

The notes are convertible at any time and from time to time by the Holders into shares of common stock at a fixed conversion price of $0.13 per share. The company issued securities in reliance on the exemption afforded by Section 4(a)(2) of the Securities Act of 1933 and Rule 506(b) of Regulation D promulgated thereunder.