Company plans to use deal's proceeds for working capital and projects
By Devika Patel
Knoxville, Tenn., Sept. 28 - Clean Air Power Ltd. said it completed a £3.36 million private placement of stock. Seymour Pierce Ltd. was the agent.
The company sold 41,963,850 common shares at 8p each. The per-share price is a 15.79% discount to the Sept. 27 closing share price of 9.5p.
Inside investors included John Pettitt, Peter Rowse, Rodney Westhead, Ulrich Wohr, Karl-Viktor Schaller and Bernard Lord.
Proceeds will be used for working capital and to support projects.
London-based Clean Air Power develops and markets Dual-Fuel solutions to power heavy goods vehicles.
| Issuer: | Clean Air Power Ltd.
|
| Issue: | Common shares
|
| Amount: | £3,357,108
|
| Shares: | 41,963,850
|
| Price: | 8p
|
| Warrants: | No
|
| Agent: | Seymour Pierce Ltd.
|
| Investors: | John Pettitt, Peter Rowse, Rodney Westhead, Ulrich Wohr, Karl-Viktor Schaller and Bernard Lord
|
| Settlement date: | Sept. 28
|
| Stock symbol: | London: CAP
|
| Stock price: | 9.5p at close Sept. 27
|
| Market capitalization: | £12.83 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.
