Published on 12/24/2009 in the Prospect News PIPE Daily.
New Issue: Axion Power concludes $26.08 million private placement of common stock
By Devika Patel
Knoxville, Tenn., Dec. 24 - Axion Power International, Inc. completed a $26.08 million private placement of shares on Dec. 21, according to an 8-K filed Thursday with the Securities and Exchange Commission. The deal priced Dec. 18.
The company sold 45,757,572 common shares at $0.57 apiece.
New Castle, Pa.-based Axion specializes in developing energy storage devices.
| Issuer: | Axion Power International, Inc.
|
| Issue: | Common shares
|
| Amount: | $26,081,490
|
| Shares: | 45,757,572
|
| Price: | $0.57
|
| Warrants: | No
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 21
|
| Stock symbol: | OTCBB: AXPW
|
| Stock price: | $1.62 at close Dec. 18
|
| Market capitalization: | $40.7 million
|
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