By Devika Patel
Knoxville, Tenn., Feb. 5 – Capstone Turbine Corp. completed a $30 million private placement of three-year 13% senior secured notes on Monday, according to an 8-K filed with the Securities and Exchange Commission.
Goldman Sachs Specialty Lending Holdings, Inc. was the agent and was also an investor.
Proceeds were used to pay in full the company’s obligations under a June 2, 2017 business financing agreement with Western Alliance Bank.
Also on Monday, the company sold a warrant for 4,046,337 shares to Goldman Sachs & Co. LLC in a private placement for $150,000. These funds will be used for general corporate purposes.
Capstone Turbine makes low-emission microturbine systems and is based in Chatsworth, Calif.
| Issuer: | Capstone Turbine Corp.
|
| Issue: | Senior secured notes
|
| Amount: | $30 million
|
| Maturity: | Feb. 4, 2022
|
| Coupon: | 13%
|
| Call option: | Make-whole call option until two years after settlement, then a par call option
|
| Agent: | Goldman Sachs Specialty Lending Holdings, Inc.
|
| Selected investor: | Goldman Sachs Specialty Lending Holdings, Inc.
|
| Pricing date: | Feb. 4
|
| Distribution: | Private placement
|
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