New Issue: Neah Power negotiates $15 million committed equity financing facility

By Devika Patel

Knoxville, Tenn., Jan. 22 - Neah Power Systems, Inc. arranged a $15 million one-year committed equity financing facility with First Equity Trust, Inc., Amber Capital Corp. and Knightsbridge Law Co., Ltd. on Jan. 18, according to an 8-K filed Friday with the Securities and Exchange Commission.

Each of the investors has committed to buy up to $5 million of the company's shares.

Bothell, Wash.-based Neah Power develops methanol fuel cells using silicon-based technologies.

Issuer:	Neah Power Systems, Inc.
Issue:	Committed equity financing facility
Amount:	$15 million
Tenor:	One year
Warrants:	No
Investors:	First Equity Trust, Inc., Amber Capital Corp. and Knightsbridge Law Co., Ltd.
Settlement date:	Jan. 18
Stock symbol:	OTCBB: NPWZ
Stock price:	$0.49 at close Jan. 16
Market capitalization:	$21.6 million

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