Rodman & Renshaw assists in selling 7.5 million shares at $4.00 apiece
By Devika Patel
Knoxville, Tenn., Dec. 3 - Advanced Battery Technologies, Inc. settled a registered direct offering of stock on Dec. 3, according to an 8-K filed Friday with the Securities and Exchange Commission. It raised $30 million in the deal, which priced Nov. 29.
The company sold 7.5 million common shares at $4.00 apiece and warrants for 3.75 million shares. The warrants are exercisable at $4.00 for one year and one week.
The share price and the warrant strike price are a 5.25% discount to the Nov. 26 closing share price of $4.21.
Rodman & Renshaw, LLC was the agent.
Advanced Battery Technologies, based in New York, develops, manufactures and distributes rechargeable polymer lithium-ion batteries.
| Issuer: | Advanced Battery Technologies, Inc.
|
| Issue: | Common stock
|
| Amount: | $30 million
|
| Shares: | 7.5 million
|
| Price: | $4.00
|
| Warrants: | For 3.75 million shares
|
| Warrant expiration: | One year and one week
|
| Warrant strike price: | $4.00
|
| Agent: | Rodman & Renshaw, LLC
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 3
|
| Stock symbol: | Nasdaq: ABAT
|
| Stock price: | $4.28 at close Nov. 29
|
| Market capitalization: | $264.58 million
|
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