Capstone Green Energy Holdings, Inc. announced a private investment in public equity financing (PIPE) of approximately $15 million.
The private placement is expected to result in the issuance of 7,500,000 shares of common stock at $2.00 per share.
Proceeds will be used for debt repayment, product development, expansion into AI data center market, and general corporate purposes.
Private Placement Details
7,500,000 shares of common stock (or pre-funded warrants) will be issued at $2.00 per share.
Use of Proceeds
The net proceeds will go towards debt repayment, product development, and expansion into the AI data center market.
Lock-Up Agreement
Capstone's directors and officers agreed to a 90-day lock-up period, and investors are restricted from short selling for 90 days after effective registration.
Placement Agent
Craig-Hallum Capital Group LLC served as the sole placement agent for the private placement.
- The private placement strengthens Capstone's capital structure and provides resources to manage near-term debt obligations and explore growth opportunities.
- Capstone's board and management team's participation underscores confidence in the company's technology and future prospects.
The $15 million private placement signifies a strategic move for Capstone Green Energy, supporting its technology advancements and expansion plans. The strong participation from key stakeholders reflects confidence in the company's growth trajectory and market position.