By Devika Patel
Knoxville, Tenn., Jan. 29 - Evergreen Energy, Inc. said it increased a registered direct offering of stock to $8.77 million from $7.05 million. The deal priced Wednesday.
The company will now sell 29,236,664 common shares at $0.30 apiece, along with warrants for 14,618,331 shares.
The warrants are exercisable at $0.3859 for five years.
Rodman & Renshaw, LLC is the agent.
Settlement is expected Friday.
Proceeds will be used for general working capital purposes.
Evergreen Energy, based in Denver, refines coal into a cleaner solid fuel.
| Issuer: | Evergreen Energy, Inc.
|
| Issue: | Common stock
|
| Amount: | $8,770,999
|
| Shares: | 29,236,664
|
| Price: | $0.30
|
| Warrants: | For 14,618,331 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.3859
|
| Agent: | Rodman & Renshaw, LLC
|
| Pricing date: | Jan. 27
|
| Upsized: | Jan. 29
|
| Settlement date: | Jan. 29
|
| Stock symbol: | NYSE: EEE
|
| Stock price: | $0.3859 at close Jan. 26
|
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