Published on 8/15/2012 in the Prospect News PIPE Daily.
ThermoEnergy wraps $828,750 of $2.56 million placement of its shares
Investors also receive five-year warrants for 25.6 million shares
By Devika Patel
Knoxville, Tenn., Aug. 15 - ThermoEnergy Corp. settled an $828,750 tranche of $2.56 million private placement of stock on Aug. 9, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The deal raised $1.73 million on July 11.
The company sold 17,316,250 common shares at $0.10 apiece in the first tranche and 8,287,500 shares in the second tranche. The price per share is a 9.09% discount to the July 10 closing share price of $0.11.
Investors also received warrants for 17,316,250 shares in the first tranche and warrants for 8,287,500 shares in the second; the warrants are each exercisable $0.15 until July 11, 2017. The strike price is a 36.36% premium to the July 10 closing share price.
The investors in the first tranche were Cary G. Bullock, J. Winder Hughes III, Robert F. Marrs, The Quercus Trust, George M. Abraham, Eduardo Diaz, Scott E. Douglass, Steven Etra, Subhash C. Gulati, Constantine Hagepanos, Constantine Hagepanos IRA, Gregory A. Harrison, Ryan Michael Hogan, Barry Honig, IVM Productions, Inc., Carl C. Landegger, Gilbert E. Ludwig IRA, Charles McElheney IRA, Fred Militello, Jason Paulley IRA, Bruce M. Robinson, John R. Rogers, John R. Rogers IRA, Vincent Rose, Jr. IRA, David Sack and Robert Stanger.
Based in Little Rock, Ark., ThermoEnergy designs renewable energy and power-generation facilities using technologies that convert municipal and industrial wastewater into biofuel.
| Issuer: | ThermoEnergy Corp.
|
| Issue: | Common stock
|
| Amount: | $2,560,375
|
| Shares: | 25,603,750
|
| Price: | $0.10
|
| Warrants: | For 25,603,750 shares
|
| Warrant expiration: | July 11, 2017
|
| Warrant strike price: | $0.15
|
| Investors: | Cary G. Bullock, J. Winder Hughes III, Robert F. Marrs, The Quercus Trust, George M. Abraham, Eduardo Diaz, Scott E. Douglass, Steven Etra, Subhash C. Gulati, Constantine Hagepanos, Constantine Hagepanos IRA, Gregory A. Harrison, Ryan Michael Hogan, Barry Honig, IVM Productions, Inc., Carl C. Landegger, Gilbert E. Ludwig IRA, Charles McElheney IRA, Fred Militello, Jason Paulley IRA, Bruce M. Robinson, John R. Rogers, John R. Rogers IRA, Vincent Rose, Jr. IRA, David Sack and Robert Stanger
|
| Settlement date: | July 11 (for $1,731,625), Aug. 9 (for $828,750)
|
| Stock symbol: | OTCBB: TMEN
|
| Stock price: | $0.11 at close July 10
|
| Market capitalization: | $10.67 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.
