By Sheri Kasprzak
New York, Dec. 15 - Mechanical Technology Inc. completed a private placement of units for $10,899,900.
The company issued 60,555 units at $180.00 each.
The units consist of 100 shares and warrants for 50 shares. Each warrant is exercisable at $2.27 per share.
Rodman & Renshaw, LLC was the placement agent.
Based in Albany, N.Y., Mechanical Technology develops cordless portable power systems.
| Issuer: | Mechanical Technology Inc.
|
| Issue: | Units of 100 shares and warrants for 50 shares
|
| Amount: | $10,899,900
|
| Units: | 60,555
|
| Price: | $180.00
|
| Warrants: | For 50 shares per unit
|
| Warrant strike price: | $2.27
|
| Placement agent: | Rodman & Renshaw, LLC
|
| Settlement date: | Dec. 15
|
| Stock symbol: | Nasdaq: MKTY
|
| Stock price: | $2.18 at close Dec. 15
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
