Insider purchases 66,667 shares at a price of $4.50 per share
By Susanna Moon
Chicago, Oct. 21 - Tecogen Inc. entered into a common stock purchase agreement to sell Bruno Meier $300,000 of shares, according to an 8-K filing with the Securities and Exchange Commission.
Meier purchased 66,667 shares at a price of $4.50 per share.
Meier is a director of EuroSite Power Inc., which is an affiliate of the company.
Proceeds will be used for general corporate and working capital purposes.
Tecogen had planned to sell 3 million common shares in an initial public offering, according to a Form S-1 filed Sept. 3 with the Securities and Exchange Commission. The deal, which was slated to raise up to $25.88 million, had a 30-day greenshoe for an additional 450,000 shares.
The shares will be sold at a price expected to be between $5.50 and $7.50 per share, the company previously said.
Tecogen is a manufacturer of natural-gas-fueled, engine-driven, combined heat and power products that aim to reduce energy costs, greenhouse gas emissions and congestion on the national power grid. The company is based in Waltham, Mass.
Issuer: | Tecogen Inc.
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Issue: | Common shares
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Amount: | $300,000
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Shares: | 66,667
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Price: | $4.50
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Warrants: | No
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Investor: | Bruno Meier
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Pricing date: | Oct. 21
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Stock symbol: | Nasdaq: TGEN
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