By Sheri Kasprzak
New York, July 30 - Enova Systems, Inc. intends to conduct a private placement for £5,766,800.
The company plans to sell 2.218 million shares at 260p each.
Closing of the deal is contingent upon Enova having its shares listed for trade on the London Stock Exchange's Alternative Investment Market.
Enova Systems, based in Torrance, Calif., develops fuel cell, hybrid and environmentally friendly power components used in automobiles.
| Issuer: | Enova Systems, Inc.
|
| Issue: | Stock
|
| Amount: | £5,766,800
|
| Shares: | 2.218 million
|
| Price: | 260p
|
| Warrants: | No
|
| Pricing date: | July 25
|
| Stock symbol: | Amex: ENA
|
| Stock price: | $5.705 at close July 25
|
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