ClearSign Technologies announces proposed public offering of common stock

ClearSign Technologies Corporation (NASDAQ: CLIR) announced a proposed underwritten public offering of its common stock, according to a company statement. The Tulsa-based company said all shares in the offering will be sold by ClearSign itself.

The company plans to grant the underwriter a 30-day option to purchase up to an additional 15% of the offered shares at the public offering price, minus underwriting discounts. Newbridge Securities Corporation will serve as the sole book-running manager for the offering.

ClearSign stated it intends to use net proceeds for working capital, research and development, marketing and sales, and general corporate purposes. The company noted that final terms will depend on market conditions at the time of pricing.

The shares are being offered under a shelf registration statement on Form S-3 that was previously filed with and declared effective by the Securities and Exchange Commission. A preliminary prospectus supplement has been filed with the SEC.

ClearSign develops combustion and sensing technologies for industrial applications, with products designed to reduce emissions and increase efficiency. The company's technologies are used across energy, chemical, petrochemical, and power industries.

The company cautioned that the offering is subject to market conditions and provided no assurance regarding completion, timing, size, or terms of the proposed offering.

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