Offering of 696,056 common shares will fund general corporate purposes
By Devika Patel
Knoxville, Tenn., April 12 – Ener-Core, Inc. said it settled a $3 million private placement of stock.
The company sold 696,056 common shares at $4.31 apiece, a 2.04% discount to the April 11 closing share price of $4.40.
Proceeds will be used for 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.
| Issuer: | Ener-Core, Inc.
|
| Issue: | Common stock
|
| Amount: | $3 million
|
| Shares: | 696,056
|
| Price: | $4.31
|
| Warrants: | No
|
| Settlement date: | April 12
|
| Stock symbol: | OTCBB: ENCR
|
| Stock price: | $4.40 at close April 11
|
| Market capitalization: | $13.28 million
|
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