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American DG Energy plans $20 million public offering of common stock
Proceeds used for development and installation of new energy systems
By Devika Patel
Knoxville, Tenn., June 30 – American DG Energy Inc. said it will price a $20 million public sale of common stock. The deal will have a 45-day, 15% greenshoe.
Aegis Capital Corp. is the bookrunning manager; MLV & Co. is the co-manager.
Proceeds will be used for working capital purposes in connection with the development and installation of current and new energy systems, such as its cogeneration systems and chillers, and for general corporate purposes.
Based in Waltham, Mass., American DG Energy distributes and operates clean, onsite energy systems that produce electricity, hot water, heating and cooling.
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