Published on 3/2/2009 in the Prospect News PIPE Daily.
New Issue: Ceramic Fuel Cells negotiates £9 million private stock placement
By Devika Patel
Knoxville, Tenn., March 2 - Ceramic Fuel Cells Ltd. said it will conduct a £9 million private placement of shares. It also said it plans a A$10 million rights issue.
The company will sell 409,046,688 shares at 2.2p each. Of the shares sold, 207,986,051 will be underwritten by Nomura Code Securities Ltd. for £4.58 million.
Proceeds will be used to strengthen the company's balance sheet and for working capital.
Based in Victoria, Australia, Ceramic develops technologies used in stationary power generation.
| Issuer: | Ceramic Fuel Cells Ltd.
|
| Issue: | Shares
|
| Amount: | £8,999,027.14
|
| Shares: | 409,046,688
|
| Price: | 2.2p
|
| Warrants: | No
|
| Underwriter: | Nomura Code Securities Ltd. (for 207,986,051 shares)
|
| Pricing date: | March 2
|
| Stock symbol: | London: CFU
|
| Stock price: | 3.38p at close March 2
|
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