Capstone Green Energy (CGRN) Doubles Agreement to Sell Shares to 1.9M Shares at 5.25/sh From Previously Announced 950K
- Wall Street surges to all-time closing high on earnings, economic revival
- Was Intel's (INTC) Second Quarter a Speedbump or Inflection?
- Twitter (TWTR) Gains After Beating Q2 Estimates, Analysts Raise PTs as Brand Recovery Accelerates
- U.S. dollar on track for second week of gains; Fed meeting in focus
- Snap (SNAP) Surges 17% After Smashing Q2 Views Across the Board to Yield a Dozen Price Target Hikes
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
Capstone Green Energy Corporation (NASDAQ: CGRN) a global leader in carbon reduction and on-site resilient green energy solutions, today announced that, due to demand, the Company and the underwriter have decided to increase the size of the previously announced public offering, and accordingly the underwriter has agreed to purchase on a firm commitment basis 1,904,763 shares of common stock of the Company at a price to the public of $5.25 per share, less underwriting discounts and commissions. The closing of the offering is expected to occur on or about June 22, 2021, subject to satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.
The Company has also granted to the underwriter a 30-day option to purchase up to an additional 285,714 shares of common stock at the public offering price, less underwriting discounts and commissions.
The gross proceeds of the offering are expected to be approximately $10,000,000, before deducting underwriting discounts and commissions and offering expenses payable by Capstone and assuming no exercise of the option to purchase additional shares of common stock. Capstone intends to use the net proceeds from the offering for working capital, general corporate purposes and growth initiatives, including organic growth and potential future acquisitions. However, the Company has no present arrangements, agreements or understanding in principle of any such acquisitions.
A shelf registration statement on Form S-3 (File No. 333-254547) relating to the shares of common stock being offered was filed with the U.S. Securities and Exchange Commission (the "SEC") on March 22, 2021, and became effective on April 14, 2021. The offering will be made only by means of a prospectus supplement and accompanying prospectus that form a part of the shelf registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available on the SEC's website, located at www.sec.gov. Electronic copies of the final prospectus supplement and accompanying prospectus relating to the offering when filed with the SEC, may also be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at firstname.lastname@example.org or by phone at (212) 856-5711. Before you invest, you should read the preliminary prospectus supplement and accompanying prospectus and the other documents that Capstone has filed with the SEC for more complete information about Capstone and the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- AzurRx BioPharma (AZRX) Upsizes Previously Announced 5.5M Share Bought Deal offering to 9.1M Share
- Xponential Fitness, Inc (XPOF) Prices 10M Share IPO at $10/sh
- Moelis & Company (MC) Announces $0.60 Regular Dividend; Approves $100M Share Buyback
Create E-mail Alert Related CategoriesCorporate News, Equity Offerings
Related EntitiesS3, H.C. Wainwright
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!