New Issue: Enova Systems seals $10.35 million private placement of common shares

By Devika Patel

Knoxville, Tenn., Oct. 30 - Enova Systems, Inc. concluded a $10.35 million private placement of stock on Oct. 29, according to an 8-K filed Friday with the Securities and Exchange Commission.

The company sold 10,347,960 common shares at $1.00 per share to some Special Situations Funds, Stitching Shell Pensioenfonds, Shell Contributory Pension Fund, Shell Overseas Contributory Pension Fund, Silicon Prairie Partners, LLP and Eruca Ltd.

Based in Torrance, Calif., Enova makes digital power-control systems for automobile engines.

Issuer:	Enova Systems, Inc.
Issue:	Common stock
Amount:	$10,347,960
Shares:	10,347,960
Price:	$1.00
Warrants:	No
Investors:	Special Situations Funds, Stitching Shell Pensioenfonds, Shell Contributory Pension Fund, Shell Overseas Contributory Pension Fund, Silicon Prairie Partners, LLP and Eruca Ltd.
Settlement date:	Oct. 29
Stock symbol:	Amex: ENA
Stock price:	$1.23 at close Oct. 29
Market capitalization:	$25.8 million

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