Published on 7/27/2009 in the Prospect News PIPE Daily.
New Issue: American DG Energy completes $3.49 million private placement of shares
By Devika Patel
Knoxville, Tenn., July 27 - American DG Energy Inc. settled a private placement of stock for approximately $3.49 million on Friday, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 1,663,167 common shares. The investors also received the right to buy additional shares at $3.10 apiece until Dec. 18.
Based in Waltham, Mass., American DG Energy distributes and operates clean, onsite energy systems that produce electricity, hot water, heat and cooling.
| Issuer: | American DG Energy Inc.
|
| Issue: | Common stock
|
| Amount: | $3,492,650 (approximate)
|
| Shares: | 1,663,167
|
| Warrants: | Yes
|
| Warrant expiration: | Dec. 18, 2009
|
| Warrant strike price: | $3.10
|
| Settlement date: | July 24
|
| Stock symbol: | OTCBB: ADGE
|
| Stock price: | $2.95 at close July 24
|
| Market capitalization: | $99 million
|
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