American Uranium wraps $6.07 million; Beacon Power sells $10 million in stock, warrants

By LLuvia Mares

New York, Sept. 5 - American Uranium Corp. was positively glowing after concluding a $6,065,125 private placement of units.

The company sold the units at $0.75 per unit, with each consisting of one share and one half warrant. Each whole warrant is exercisable at $1.25 for two years.

The proceeds will be used for working capital and to help meet the company's obligations under its recently announced joint venture on the Pine Tree-Reno Creek uranium project.

"In the large scale we are pretty happy with the property that we have," said a company insider. "We have our chief executive officer on a roadshow promoting our company and talking to his contacts to see if there are any properties potentially closer to our production that we can acquire."

Denver-based American Uranium is a uranium exploration company that buys and develops properties in the United States.

The insider said that due to the company's good financial standing, it decided the private placement was a better option for the company.

"In this market in the next month or two we are going to be presented with some opportunities for different property acquisitions," said the insider about future transactions. "So I am not going to say that we are not looking for other deals, but it's not something that we have dismissed."

Beacon Power to raise $10 million

Beacon Power Corp. announced Wednesday it plans to sell $10 million in stock and warrants.

The company offered 5.1 million units for $1.96 per unit, a premium to the company's closing bid price of $1.81 on Sept. 4. The unnamed buyer is an institutional investor.

Each unit consists of one share of common stock and one warrant to purchase 1.2 shares of the stock at an exercise price of $1.99 per share.

The warrants are immediately separable from the units and can be exercised from six months after the date of issuance and will expire in five and a half years.

Merriman Curhan Ford & Co. was the placement agent.

"We had said that we would be looking to raise $20 million this year so this is $10 million and indeed at some point later this year I would expect we would have another deal to put together," a company spokesperson.

Proceeds will be used for ongoing operations, including improvements to the company's new manufacturing facility as well as procurement of materials related to the deployment of the company's commercial flywheel frequency regulation service.

The transaction is expected to close September 10.

Wilmington, Mass.-based Beacon Power designs, develops and commercializes advanced products and services to support stable, reliable and efficient electricity grid operation.

AeroGrow reaps $4.75 million

AeroGrow International, Inc. closed a $4.75 million private offering of units, sold at $6.25 each.

The company sold 760,000 units, each made up of stock and one warrant to purchase one share of common stock at an exercise price of $8.00 per share for seven years.

Keating Securities, LLC was the placing agent.

Boulder, Colo.-based AeroGrow specializes in the research, development, manufacturing and marketing of consumer products.

Amish Naturals stock rises

Just a day after raising $6 million from a private placement, Amish Naturals, Inc. ended its day with a tasty treat after its stock increased 1.88%.

The stock (OTCBB: AMNT) gained $0.03 cents closing the day at $2.21.

Amish Naturals sold $6 million in 9.25% senior secured convertible notes and warrants to an institutional investor. The notes convert at $1.8781.

The investor received series A warrants for 1,597,331 shares, series B warrants for 798,665 shares and series C warrants for 798,665 shares.

The series A warrants are exercisable at $1.8781, the series B warrants were exercisable at $2.50 and the series C warrants are exercisable at $3.00.

The company will use proceeds for expansion of its distribution and production facilities, for product development, for debt repayment and fro working capital.

Amish Naturals is a Holmesville, Ohio-based producer of organic pasta.

© 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.