Insider purchases 66,667 shares at a price of $4.50 per share
By Susanna Moon
Chicago, Oct. 21 - Tecogen Inc. entered into a common stock purchase agreement to sell Bruno Meier $300,000 of shares, according to an 8-K filing with the Securities and Exchange Commission.
Meier purchased 66,667 shares at a price of $4.50 per share.
Meier is a director of EuroSite Power Inc., which is an affiliate of the company.
Proceeds will be used for general corporate and working capital purposes.
Tecogen had planned to sell 3 million common shares in an initial public offering, according to a Form S-1 filed Sept. 3 with the Securities and Exchange Commission. The deal, which was slated to raise up to $25.88 million, had a 30-day greenshoe for an additional 450,000 shares.
The shares will be sold at a price expected to be between $5.50 and $7.50 per share, the company previously said.
Tecogen is a manufacturer of natural-gas-fueled, engine-driven, combined heat and power products that aim to reduce energy costs, greenhouse gas emissions and congestion on the national power grid. The company is based in Waltham, Mass.
| Issuer: | Tecogen Inc.
|
| Issue: | Common shares
|
| Amount: | $300,000
|
| Shares: | 66,667
|
| Price: | $4.50
|
| Warrants: | No
|
| Investor: | Bruno Meier
|
| Pricing date: | Oct. 21
|
| Stock symbol: | Nasdaq: TGEN
|
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