Company sells shares at $4.50 apiece to fund working capital purposes
By Devika Patel
Knoxville, Tenn., Dec. 6 - Tecogen Inc. completed a $90,000 private placement of its common stock on Dec. 5, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 20,000 shares at $4.50 each.
Proceeds will be used for general corporate and working capital purposes.
Based in Waltham, Mass., 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.
| Issuer: | Tecogen Inc.
|
| Issue: | Common stock
|
| Amount: | $90,000
|
| Shares: | 20,000
|
| Price: | $4.50
|
| Warrants: | No
|
| Settlement date: | Dec. 5
|
| Stock symbol: | Nasdaq: TGEN
|
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