Published on 7/3/2006 in the Prospect News PIPE Daily.
New Issue: Microfield sells $15 million of stock in private placement
New York, July 3 - Microfield Group, Inc. said it closed a private placement of $15 million of common stock on June 30.
The Portland, Ore., company issued 7.5 million shares and warrants to buy 5,625,000 shares at $3.00 per share.
Proceeds will be used for working capital and to further the development of the EnergyConnect business Microfield acquired in October 2005.
Microfield supplies technologies and services to electricity providers and consumers.
| Issuer: | Microfield Group, Inc.
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| Issue: | Common stock
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| Amount: | $15 million
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| Shares: | 7,500,000
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| Warrants: | For 5,625,000 shares
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| Warrant strike price: | $3.00
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| Settlement date: | June 30
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| Stock symbol: | OTCBB: MICG
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| Stock price: | $3.07 at close June 30
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