By Devika Patel
Knoxville, Tenn., June 30 - Raser Technologies, Inc. arranged a $25.51 million registered direct offering of units, according to a prospectus supplement filed Tuesday with the Securities and Exchange Commission.
The company will sell 8,550,339 units of one common share and a half-share warrant at $2.98375 per unit.
The whole warrants are each exercisable at $4.62 for five years.
Calyon Securities (USA) Inc., RBC Capital Markets Corp. and JMP Securities LLC are the agents.
Proceeds will be used 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: | $25,512,073.99
|
| Units: | 8,550,339
|
| Price: | $2.98375
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $4.62
|
| Agents: | Calyon Securities (USA) Inc., RBC Capital Markets Corp. and JMP Securities LLC
|
| Pricing date: | June 30
|
| Stock symbol: | NYSE: RZ
|
| Stock price: | $3.85 at close June 29
|
| Market capitalization: | $179 million
|
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