By Devika Patel
Knoxville, Tenn., April 28 - U.S. Geothermal Inc. said it completed a C$15 million private placement of units. The deal priced on April 9 for C$10.01 million with a C$5 million greenshoe.
The company sold 6,382,500 units of one common share and one half-share warrant at C$2.35 apiece. Each whole warrant will be exercisable at C$3.00 for two years.
Of the units sold, 2,122,500 were part of the partially exercised greenshoe.
Proceeds will be used to complete the company's recently announced Empire geothermal project acquisition and for general working capital purposes.
U.S. Geothermal is a renewable energy development company based in Toronto.
| Issuer: | U.S. Geothermal Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$14,998,875 (including C$4,987,875 greenshoe)
|
| Units: | 6,382,500
|
| Price: | C$2.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$3.00
|
| Pricing date: | April 9
|
| Settlement date: | April 28
|
| Stock symbol: | Toronto: GTH
|
| Stock price: | C$2.35 at close April 8
|
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