By Susanna Moon
Chicago, March 11 - GreenHunter Energy, Inc. said it completed its at-the-market offering of its common stock and 10% series C cumulative preferred stock, raising gross proceeds of about $12,116,000.
The company said on Dec. 14 that it closed its at-the-market sale of 10% series C cumulative preferreds, selling 300,000 shares at $21.00 apiece for proceeds of $6.3 million via sales manager MLV & Co. LLC.
The company registered to sell up to $12,137,750, or 485,510, preferreds in a prospectus filing with the Securities and Exchange Commission, as previously reported.
The preferreds have a liquidation preference of $25.00 per share and trade on the NYSE MKT under the symbol "GRH.PRC."
Assuming a price per common share of $2.30 in a change of ownership or control, which was the closing price of the company's stock on Oct. 31, 5,277,283 shares would be issuable upon the conversion of the preferreds, the filing noted.
The company's preferreds (NYSE: GRH.PRC) closed at $22.04 per share on Dec. 10, and the company's common stock closed at $1.72.
GreenHunter is a diversified renewable energy company.
| Issuer: | GreenHunter Energy Inc.
|
| Securities: | Series C cumulative preferred stock
|
| Amount: | $12,116,000
|
| Agent: | MLV & Co. LLC
|
| Dividend: | 10%
|
| Liquidation preference: | $25.00 per share
|
| Pricing date: | Dec. 11
|
| Settlement date: | March 11
|
| Stock symbol: | NYSE: GRHPC
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
