Published on 4/24/2008 in the Prospect News PIPE Daily.
New Issue: Enova prices $4.98 million private placement of shares
By Devika Patel
Knoxville, Tenn., April 24 - Enova Systems, Inc. said it has arranged a $4.98 million private placement of stock.
The company will sell 1,273,700 common shares at $3.91 per share.
Proceeds will be used as working capital and to strengthen the company's balance sheet.
Based in Torrance, Calif., Enova makes digital power-control systems for automobile engines.
Issuer: | Enova Systems, Inc.
|
Issue: | Common stock
|
Amount: | $4,980,167
|
Shares: | 1,273,700
|
Price: | $3.91
|
Warrants: | No
|
Pricing date: | April 24
|
Stock symbol: | Amex: ENA
|
Stock price: | $3.86 at close April 23
|
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