Deal, conducted by Roth Capital Partners, has $3.19 million greenshoe
By Devika Patel
Knoxville, Tenn., June 23 - Ecotality Inc. negotiated a public sale of stock for $21.25 million, according to a prospectus supplement filed Thursday with the Securities and Exchange Commission. There is a $3.19 million greenshoe.
The company will sell 8.5 million common shares at $2.50 apiece, which is a 0.4% discount to the June 22 closing share price of $2.51.
Roth Capital Partners, ThinkEquity LLC and Craig-Hallum Capital Group are the agents.
Settlement is expected June 27.
Proceeds will be for working capital, to expand the company's Blink infrastructure and for general corporate purposes.
Ecotality is a renewable energy company in Scottsdale, Ariz.
| Issuer: | Ecotality Inc.
|
| Issue: | Common stock
|
| Amount: | $21.25 million
|
| Greenshoe: | $3,187,500
|
| Shares: | 8.5 million
|
| Price: | $2.50
|
| Warrants: | No
|
| Agents: | Roth Capital Partners, ThinkEquity LLC and Craig-Hallum Capital Group
|
| Pricing date: | June 23
|
| Settlement date: | June 27
|
| Stock symbol: | Nasdaq: ECTY
|
| Stock price: | $2.51 at close June 22
|
| Market capitalization: | $33.76 million
|
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