By Devika Patel
Knoxville, Tenn., June 24 - Rentech, Inc. arranged an $6.38 million registered direct offering of stock, according to a prospectus supplement filed Wednesday with the Securities and Exchange Commission.
The company will sell 11 million common shares at $0.58 apiece.
Settlement is expected Monday.
Proceeds will be used for general corporate purposes.
Los Angeles-based Rentech develops technologies and projects that transform under-utilized energy resources into an alternative fuel and chemicals.
| Issuer: | Rentech, Inc.
|
| Issue: | Common stock
|
| Amount: | $6.38 million
|
| Shares: | 11 million
|
| Price: | $0.58
|
| Warrants: | No
|
| Pricing date: | June 24
|
| Settlement date: | June 29
|
| Stock symbol: | Amex: RTK
|
| Stock price: | $0.58 at close June 23
|
| Market capitalization: | $94.4 million
|
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