Deal sells 1,618,123 shares at $12.36, along with five-year warrants
By Devika Patel
Knoxville, Tenn., Aug. 9 – Energous Corp. settled a $20 million private placement of stock with Ascend Legend Master Fund, Ltd. on Aug. 9, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 1,618,123 common shares at $12.36 per share. The price per share is a 4.48% discount to the $12.94 closing share price on Aug. 8.
Ascend also received warrants for 1,618,123 shares. Each warrant is exercisable at $23.00 for five years. The strike price is a 77.74% premium to the Aug. 8 closing share price.
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
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| Amount: | $20 million
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| Shares: | 1,618,123
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| Price: | $12.36
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| Warrants: | For 1,618,123 shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $23.00
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| Investor: | Ascend Legend Master Fund, Ltd.
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| Settlement date: | Aug. 9
|
| Stock symbol: | Nasdaq: WATT
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| Stock price: | $12.94 at close Aug. 8
|
| Market capitalization: | $200.85 million
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