Ladenburg Thalmann and Roth Capital Partners are the bookrunners
By Devika Patel
Knoxville, Tenn., Nov. 17 – Energous Corp. said it priced an $18 million public offering of stock with a $2.7 million greenshoe. The deal was announced Tuesday and priced a few hours later.
The company will sell 2,608,700 common shares at $6.90 apiece. The price per share is identical to the Nov. 16 closing share price.
Ladenburg Thalmann & Co. Inc. and Roth Capital Partners are the bookrunning managers.
Settlement is expected Nov. 20.
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 shares
|
| Amount: | $18 million
|
| Greenshoe: | $2.7 million, or 391,305 shares
|
| Shares: | 2,608,700
|
| Price: | $6.90
|
| Warrants: | No
|
| Bookrunners: | Ladenburg Thalmann & Co. Inc. and Roth Capital Partners
|
| Co-manager: | National Securities Corp.
|
| Announcement date: | Nov. 17
|
| Pricing date: | Nov. 17
|
| Settlement date: | Nov. 20
|
| Stock symbol: | Nasdaq: WATT
|
| Stock price: | $6.90 at close Nov. 16
|
| Market capitalization: | $94.26 million
|
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