New Issue: Entech Solar arranges $5 million private placement of preferred shares

By Devika Patel

Knoxville, Tenn., Feb. 19 - Entech Solar Inc. negotiated a $5 million private placement of series G preferred stock on Feb. 19, according to an 8-K filed Friday with the Securities and Exchange Commission. Socius Capital Group, LLC is the investor.

The company will sell up to 500 preferreds at $10,000 apiece to Socius, along with a five-year warrant for 40,909,091 common shares, which is exercisable at $0.165.

The Fort Worth company designs, manufactures and installs solar energy systems that provide electricity and thermal energy in commercial and industrial applications.

Issuer:	Entech Solar Inc.
Issue:	Series G preferred stock
Amount:	$5 million
Shares:	500
Price:	$10,000
Warrants:	For 40,909,091 shares
Warrant expiration:	Five years
Warrant strike price:	$0.165
Investor:	Socius Capital Group, LLC
Pricing date:	Feb. 19
Stock symbol:	OTCBB: ENSL
Stock price:	$0.1725 at close Feb. 19
Market capitalization:	$41.3 million

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