Agreement arranged with Roswell Capital Partners to fund nuclear plant
By Devika Patel
Knoxville, Tenn., Nov. 1 - Alternate Energy Holdings, Inc. said it negotiated an equity funding facility with Roswell Capital Partners.
The company may issue up to $150 million in common shares to the investor.
Proceeds will be applied toward land, water rights and the Nuclear Regulatory Commission application for a nuclear power plant project in Payette County, Idaho.
"Roswell Capital Partners have been excellent to work with as we share many of the same goals when it comes to nuclear power. This agreement gives us the ability to move forward on the initial phase of building of a nuclear power plant, which is something we both want to see happen," Alternate Energy chief executive officer Don Gillispie said in a news release.
Located in Eagle, Idaho, Alternate Energy buys and constructs green energy sources.
| Issuer: | Alternate Energy Holdings, Inc.
|
| Issue: | Equity funding facility
|
| Amount: | $150 million
|
| Warrants: | No
|
| Investor: | Roswell Capital Partners
|
| Pricing date: | Nov. 1
|
| Stock symbol: | Pink Sheets: AEHI
|
| Stock price: | $0.72 at close Oct. 29
|
| Market capitalization: | $225.66 million
|
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