Mensajepor ferbar » Mié Mar 17, 2010 10:52 am
Encontré esto:
Evergreen Energy Raises Approximately $9.3 Million Through a Registered Direct Offering
DENVER--(BUSINESS WIRE)--Evergreen Energy Inc. (NYSE Arca:EEE) entered into definitive agreements with institutional investors in a registered direct offering of its Series C Convertible Preferred Stock (“preferred stock”) with gross proceeds of approximately $9.3 million. Evergreen expects to receive net proceeds of approximately $5.0 million, excluding transaction costs. Approximately $4.3 million of the gross proceeds will be placed into an escrow account as a make-whole provision, which amounts will be released to pay the dividend and make-whole payment. The securities were offered pursuant to a shelf registration statement on Form S-3 that was previously declared effective by the Securities and Exchange Commission (SEC) on January 19, 2010.
The preferred stock is convertible into shares of the Company’s common stock at the option of the investors at a conversion price of $0.3725 per share and will accrue a 9.26% cumulative dividend until March 16, 2015. If the preferred stock is converted at any time prior to March 16, 2015, the Company will pay the holder an amount equal to the total dividend that would accrue on the preferred stock from the conversion date through March 16, 2015, or $463.09 per $1,000 stated value of preferred stock converted, less any dividend payments made with respect to the converted preferred stock. The investors also will receive warrants to purchase an aggregate of 12,500,000 shares of the Company’s common stock. The warrants will have an exercise price of $0.31 per share and are exercisable at any time after the closing of the transaction and before the fifth anniversary of the initial exercise date.
Evergreen expects to use the net proceeds for general working capital purposes. The offering is expected to close on or before Friday, March 19, 2010, subject to the satisfaction of customary closing conditions.
