Neonode Announces Anticipated Financial Proceeds from Patent Lawsuit Settlement

As of September 3, 2025, no decision has been made by Neonode's Board of Directors (the "Board") on the expected use of proceeds from the settlement. As ofSeptember 3, 2025, no decision has been made by Neonode's Board of Directors (the "Board") on the expected use of proceeds from the settlement. Background Information As previously disclosed in the Company's Current Report on Form 8-K filed with Securities and Exchange Commission (SEC) onMay 8, 2019, the Company assigned a...

As of September 3, 2025, no decision has been made by Neonode's Board of Directors (the "Board") on the expected use of proceeds from the settlement.

Background Information

As previously disclosed in the Company's Current Report on Form 8-K filed with Securities and Exchange Commission (SEC) on May 8, 2019, the Company assigned a portfolio of patents to Aequitas, an unrelated third party. The assignment provides the Company the right to share in the potential net proceeds generated from a possible licensing and monetization program that Aequitas may enter into. Under the terms of the assignment, net proceeds mean gross proceeds less out of pocket expenses and legal fees paid by Aequitas. The Company's share would also be net of a brokerage fee payable by the Company in connection with the original assignment to Aequitas.

A lawsuit was filed on June 8, 2020 by Aequitas Sub against Samsung Electronics Co. Ltd. (Civil Action No. 6:20-cv-00507) in the United States District Court for the Western District of Texas (the "Court") alleging infringement of certain patents previously assigned by the Company to Aequitas. Aequitas Sub is a subsidiary of Aequitas Technologies LLC and is not affiliated with Neonode Inc.

The court dismissed the case on September 2, 2025 following a settlement between Aequitas Sub and Samsung.

The separate patent infringement litigation brought by Aequitas Sub against Apple Inc. (assigned docket number 3:21-cv-08872) remains pending in the United States District Court for the Northern District of California.

For more information, please contact:

CONTACT:

Chief Financial Officer
Fredrik Nihlén
E-mail: [email protected]
Phone: +46 703 97 21 09

President and Chief Executive Officer
Pierre Daniel Alexus
E-mail: [email protected]
Phone: +46 767 60 29 90

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/neonode/r/neonode-announces-anticipated-financial-proceeds-from-patent-lawsuit-settlement,c4229257

The following files are available for download:

SOURCE Neonode

View original content:https://www.prnewswire.co.uk/news-releases/neonode-announces-anticipated-financial-proceeds-from-patent-lawsuit-settlement-302545759.html