News

uWink successfully completes $1.5 million private placement

March 6, 2006

LOS ANGELES — uWink Inc., a digital entertainment company, announced it has completed a $1.5 million private placement of 5 million shares of common stock priced at 30 cents per share. Company officials said the transaction will help fund uWink Bistro, a new fast-casual concept that offers bistro fare, including pizza, seafood, burgers, salads, appetizers and shareable desserts.

"Based on the successful completion of this transaction, we are confident that we can meet our operating needs and aggressively pursue the opening of our first uWink Bistro," said Nolan Bushnell, uWink's chief executive officer.

uWink intends to use the proceeds of this offering to fund the opening of the first uWink Bistro in the Westfield Promenade, in Woodland Hills, California, and for general corporate purposes. uWink Bistro plans to open Summer 2006.

According to a news release, uWink food is ordered at the table via the uWink touchscreen and served by runners. Games and media also can be accessed via the uWink touchscreens, making it easy for people to interact, have fun and enjoy a meal at a reasonable price.