Oppenheimer is lead bookrunner; Roth, National Securities will assist
By Devika Patel
Knoxville, Tenn., Dec. 10 – Energous Corp. said it priced a $20 million public sale of stock with a $3 million greenshoe. The offering was announced Nov. 12.
The company will sell 2,857,143 common shares at $7.00 per share. The price per share is a discount to the Dec. 9 closing share price of $8.00.
Oppenheimer & Co. Inc. is the lead bookrunner, and Roth Capital Partners is the co-bookrunner.
Settlement is expected Dec. 15.
Proceeds will be used for product development, regulatory activities, business development, support functions, general and administrative expenses and other general corporate purposes.
The San Jose, Calif.-based company is developing technology that can enable wireless charging or powering of electronic devices at a distance.
| Issuer: | Energous Corp.
|
| Issue: | Common stock
|
| Amount: | $20 million
|
| Greenshoe: | $3 million
|
| Shares: | 2,857,143
|
| Price: | $7.00
|
| Warrants: | No
|
| Bookrunners: | Oppenheimer & Co. Inc. (lead), Roth Capital Partners (co-bookrunner)
|
| Co-manager: | National Securities Corp.
|
| Announcement date: | Nov. 12
|
| Pricing date: | Dec. 10
|
| Settlement date: | Dec. 15
|
| Stock symbol: | Nasdaq: WATT
|
| Stock price: | $8.00 at close Dec. 9
|
| Market capitalization: | $65.8 million
|
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