New Issue: Raser arranges $7.26 million registered direct offering of equity units

By Devika Patel

Knoxville, Tenn., Oct. 19 - Raser Technologies, Inc. began a $7.26 million registered direct offering of units on Oct. 19, according to a prospectus supplement and 8-K filed Monday with the Securities and Exchange Commission.

The company is selling 4,322,052 units of one common share and a half-share warrant at $1.68 per unit. The whole warrants are each exercisable at $1.61 for 10 years.

Investors include Ocean Fund, LLC, Primary Colors, LLC and R. Thomas Bailey.

Proceeds will be used to repay debt and for general corporate purposes.

Provo, Utah-based Raser is a technology licensing and development company focused on geothermal power generation.

Issuer:	Raser Technologies, Inc.
Issue:	Units of one common share and a half-share warrant
Amount:	$7,261,047
Units:	4,322,052
Price:	$1.68
Warrants:	One half-share warrant per unit
Warrant expiration:	10 years
Warrant strike price:	$1.61
Investors:	Ocean Fund, LLC, Primary Colors, LLC and R. Thomas Bailey
Pricing date:	Oct. 19
Stock symbol:	NYSE: RZ
Stock price:	$1.49 at close Oct. 19
Market capitalization:	$112 million

© 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.