Ener-Core to price sale of 2.25 million units between $4.50 and $5.50

Bookrunners Northland Capital and Lake Street Capital assist with sale

By Devika Patel

Knoxville, Tenn., Nov. 5 – Ener-Core, Inc. will sell 2.25 million units in its public offering with a 30-day greenshoe of 337,500 additional units, according to a Form S-1/A filed Thursday with the Securities and Exchange Commission. The company has registered up to $18,500,625 of stock for the deal, which was announced as a stock sale on July 29.

The units of one common share and a quarter-share warrant will be sold at a price expected to fall between $4.50 and $5.50 per unit. Each five-year warrant will be exercisable at 120% of the per-unit price.

Northland Capital Markets and Lake Street Capital Markets are the bookrunners.

Proceeds will be used for working capital and other general corporate purposes.

The Irvine, Calif., company designs and manufactures systems for producing continuous energy from a range of sources, including previously unusable ultra-low quality gas.

© 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.