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Article: Environmental Power Corporation Announces Successful Completion of Private Placement.
- Article from:
- Business Wire
- Article date:
- May 26, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Energy Editors/Business Editors
PORTSMOUTH, N.H.--(BUSINESS WIRE)--May 26, 2004
Environmental Power Corporation (OTCBB: POWR), announced today that it had successfully completed a private placement of units consisting of shares of its common stock and common stock warrants, raising gross proceeds of $5,640,000.
Environmental Power sold a total of 235 units at a price of $24,000 per unit, with each unit consisting of 30,000 shares of common stock, and three-year warrants to purchase 15,000 shares of common stock at a purchase price of $1.10 per share. Environmental Power had originally targeted an offering of up to 210 units. However, ...