Published on 10/3/2008 in the Prospect News PIPE Daily.
New Issue: Global Energy settles $1.5 million private placement of units
By Devika Patel
Knoxville, Tenn., Oct. 3- Global Energy, Inc. completed a $1.5 million private placement of units on Sept. 30, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 30 units at $50,000 each. The units consist of 500,000 common shares and 500,000 warrants, each of which is exercisable at $0.10 for five years.
New York-based Global Energy develops alternative energy technologies.
| Issuer: | Global Energy, Inc.
|
| Issue: | Units of 500,000 common shares and 500,000 warrants
|
| Amount: | $1.5 million
|
| Units: | 30
|
| Price: | $50,000
|
| Warrants: | 500,000 warrants per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.10
|
| Announcement date: | Oct. 3
|
| Settlement date: | Sept. 30
|
| Stock symbol: | OTCBB: GEYI
|
| Stock price: | $0.11 at close Oct. 2
|
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