Raser Technologies files $150 million universal shelf registration

By Devika Patel

Knoxville, Tenn., June 1 - Raser Technologies, Inc. filed a $150 million universal shelf registration in an S-3 filing with the Securities and Exchange Commission.

The registration covers common stock, preferred stock, warrants, senior debt securities and subordinated debt securities. Securities may be structured as convertibles.

The company said it filed the registration statement to gain additional flexibility in accessing capital markets for advancing its development efforts and for general corporate purposes.

"This shelf registration represents a practical and efficient way to access the capital markets," chief executive officer Brent M. Cook said in a press release. "The registration statement will give us the flexibility to issue public debt, preferred stock, common stock or a combination of these instruments in one or more future public offerings.

"This is consistent with our overall financing strategy of positioning the company to take advantage of various alternative financing opportunities, including joint ventures, pre-paid power purchase agreements and current government alternative energy financing programs."

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

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