By Devika Patel
Knoxville, Tenn., July 13 - CleanTech Innovations, Inc. said it completed a $10 million "highly oversubscribed" private placement of units.
The company sold 3,333,333 units at $3.00 apiece. Each unit consists of one common share and one warrant for 0.15 shares. Each whole warrant is exercisable at $3.00 for three years.
First Merger Capital, Inc. was the co-lead placement agent and Aegis Capital Corp. was co-placement agent.
The New York company designs and manufactures high-performance clean technology products that promote renewable energy generation, energy savings and pollution reduction.
| Issuer: | CleanTech Innovations, Inc.
|
| Issue: | Units of one common share and one warrant for 0.15 shares
|
| Amount: | $10 million
|
| Units: | 3,333,333
|
| Price: | $3.00
|
| Warrants: | One warrant for 0.15 shares per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $3.00
|
| Agents: | First Merger Capital, Inc. (co-lead), Aegis Capital Corp. (co-placement agent)
|
| Settlement date: | July 13
|
| Stock symbol: | OTCBB: EVCPD
|
| Stock price: | $8.00 at close July 12
|
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