Lazard Capital Markets helps shares along with three-year warrants
By Devika Patel
Knoxville, Tenn., Feb. 2 - Evergreen Energy, Inc. completed a private placement of stock on Feb. 1, according to an 8-K filed Wednesday with the Securities and Exchange Commission. It raised $15.99 million via agent Lazard Capital Markets LLC.
The company sold 6,150,005 common shares at $2.60 apiece, a 4.06% discount to the Jan. 31 closing share price of $2.71.
Investors also received 12,000,005 three-year warrants, which are exercisable beginning Aug. 1, 2011. Of the warrants, 50% are exercisable at $2.60, 25% are exercisable at $2.73 and the remaining 25% are exercisable at $2.80. The strike prices reflect a 4.06% discount and 0.74% and 3.32% premiums to the Jan. 31 closing share price.
WPG Resources was among the investors.
Evergreen Energy, based in Denver, refines coal into a cleaner solid fuel.
| Issuer: | Evergreen Energy, Inc.
|
| Issue: | Common stock
|
| Amount: | $15,990,013
|
| Shares: | 6,150,005
|
| Price: | $2.60
|
| Warrants: | 12,000,005 warrants
|
| Warrant expiration: | Three years
|
| Warrant strike prices: | $2.60 (50%), $2.73 (25%), $2.80 (25%)
|
| Agent: | Lazard Capital Markets LLC
|
| Investor: | WPG Resources
|
| Settlement date: | Feb. 1
|
| Stock symbol: | NYSE: EEE
|
| Stock price: | $2.76 at close Feb. 1
|
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