Acorn Energy reports it has arranged a $15 million public stock sale

Maxim, Chardan, National Securities and FIG Partners assist with deal

By Devika Patel

Knoxville, Tenn., Oct. 7 - Acorn Energy, Inc. will conduct a $15 million public offering of common stock, according to a prospectus supplement filed Thursday with the Securities and Exchange Commission. The deal will have a 45-day greenshoe.

Maxim Group LLC is the bookrunning manager.

Chardan Capital Markets LLC, National Securities Corp. and FIG Partners LLC are the co-managers.

Proceeds will be used to provide working capital for the development of the company's USSI subsidiary and for other general corporate purposes.

Located in Mahwah, N.J., Acorn Energy develops clean energy technologies.

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