Deal with Aspire will span two years, company reports in press release
By Devika Patel
Knoxville, Tenn., March 15 - ZBB Energy Corp. announced in a press release that it negotiated a $10 million two-year common stock purchase agreement with Aspire Capital Fund, LLC on March 13.
Aspire Capital has also agreed to make an initial investment of $1 million at $0.34 per share, which was the closing share price on March 12. Future tranches will sell the shares at a price based on prevailing market prices over a period preceding each sale.
Based in Menomonee Falls, Wisc., ZBB develops energy storage technologies.
| Issuer: | ZBB Energy Corp.
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| Issue: | Common stock purchase agreement
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| Amount: | $10 million
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| Tenor: | Two years
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| Warrants: | No
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| Investor: | Aspire Capital Fund, LLC
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| Pricing date: | March 13
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| Stock symbol: | NYSE: ZBB
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| Stock price: | $0.34 at close March 12
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| Market capitalization: | $24.29 million
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