Sale of common shares funds working capital and corporate purposes
By Devika Patel
Knoxville, Tenn., March 7 - Active Power, Inc. priced a $9.75 million public sale of stock in a prospectus supplement filed Wednesday with the Securities and Exchange Commission.
The company will sell 14,336,912 common shares at $0.68 apiece. The price per share is a 2.86% discount to the March 6 closing share price of $0.70.
Proceeds will be used for working capital and general corporate purposes.
Active Power, based in Austin, Texas, designs and manufactures continuous power and infrastructure solutions.
| Issuer: | Active Power, Inc.
|
| Issue: | Common shares
|
| Amount: | $9,749,100
|
| Shares: | 14,336,912
|
| Price: | $0.68
|
| Warrants: | No
|
| Pricing date: | March 7
|
| Stock symbol: | Nasdaq: ACPW
|
| Stock price: | $0.70 at close March 6
|
| Market capitalization: | $59.04 million
|
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