By Sheri Kasprzak
Atlanta, Nov. 22 - KFx Inc. has raised $48 million in a private placement, the company said Monday.
The company sold 4 million shares at $12 each.
The deal is expected to close Nov. 24.
KFx, which is based in Denver, converts coal into clean energy. The company plans to use the proceeds from the private placement to fund the accelerated development of facilities for the production of its K-Fuel clean coal product.
| Issuer: | KFx Inc.
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| Issue: | Stock
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| Amount: | $48 million
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| Shares: | 4 million
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| Price: | $12
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| Warrants: | No
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| Announcement date: | Nov. 22
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| Settlement date: | Nov. 24
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| Stock price: | $12.57 at close Nov. 19
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