Merriman Capital will offer units on best-efforts basis for $1 each
By Angela McDaniels
Tacoma, Wash., July 11 - EuroSite Power Inc. said it will sell up to $15 million of units. Each unit consists of one share of common stock and one warrant.
The 15 million units will be sold for $1.00 each through agent Merriman Capital, Inc. on a best-efforts basis, according to an S-1 filing with the Securities and Exchange Commission.
Each warrant will be exercisable for one share for one year. The strike price is $1.00.
Proceeds will be used for working capital purposes in connection with the development and installation of new energy systems such as cogeneration systems and chillers. Proceeds will also be used for general corporate purposes, which may include potential acquisitions of companies, products and technologies.
There is currently no public market for the company's common stock. It plans to arrange for its stock to be quoted on the OTC Bulletin Board.
EuroSite Power is based Waltham, Mass. It owns and operates clean, on-site energy systems that produce electricity, hot water, heat and cooling in the United Kingdom and Europe.
| Issuer: | EuroSite Power Inc.
|
| Issue: | Units of one share of common stock and one warrant
|
| Amount: | $15 million
|
| Units: | 15 million
|
| Price: | $1.00
|
| Warrants: | One warrant exercisable for one share per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | $1.00
|
| Agent: | Merriman Capital, Inc.
|
| Pricing date: | July 11
|
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