Alternative energy technology company also sells two types of warrants
By Devika Patel
Knoxville, Tenn., Oct. 7 - Ener1, Inc. completed a private placement of stock with its principal shareholder, Ener1 Group, on Oct. 1, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 1,083,714 common shares at about $3.79 per share to the investor for $4.1 million. The price per share reflects a 2.99% premium to the Sept. 30 closing share price of $3.68.
Ener1 Group also received 464,164 warrants. Of the five-year warrants, 174,062 are exercisable at $3.78 and the remaining 290,102 are exercisable at $4.79. The strike prices are 2.72% and 30.16% premiums to the Sept. 30 price.
Fort Lauderdale, Fla.-based Ener1 is an alternative energy technology company.
| Issuer: | Ener1, Inc.
|
| Issue: | Common stock
|
| Amount: | $4,104,783
|
| Shares: | 1,083,714
|
| Price: | $3.79 (approximate)
|
| Warrants: | 464,164
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $3.78 (for 174,062 warrants), $4.79 (for 290,102 warrants)
|
| Investor: | Ener1 Group
|
| Pricing date: | Oct. 1
|
| Stock symbol: | Amex: HEV
|
| Stock price: | $3.68 at close Sept. 30
|
| Market capitalization: | $542.17 million
|
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