By Devika Patel
Knoxville, Tenn., April 9 - U.S. Geothermal Inc. said it will conduct a C$10.01 million private placement of units.
The company will sell 4.26 million units of one common share and one half-share warrant at C$2.35 per unit. Each whole warrant will be exercisable at C$3.00 for two years.
The underwriter has a greenshoe for another C$5 million of units.
Proceeds will be used to complete the company's recently announced Empire geothermal project acquisition and for general working capital purposes.
Settlement is expected on April 25.
U.S. Geothermal is a renewable energy development company based in Toronto.
| Issuer: | U.S. Geothermal Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$10,011,000
|
| Greenshoe: | C$5 million
|
| Units: | 4.26 million
|
| Price: | C$2.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$3.00
|
| Pricing date: | April 9
|
| Settlement date: | April 25
|
| Stock symbol: | Toronto: GTH
|
| Stock price: | C$2.35 at close April 8
|
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