Energous Corporation, a pioneer in scalable, over-the-air wireless power networks, announced a registered direct offering and warrant exercise.
585,347 shares of common stock and warrants at $7.92 per share are offered in a registered direct offering.
Concurrent with the offering, existing warrants are being exercised with reduced exercise prices.
Offering Details
585,347 shares of common stock priced at $7.92 per share are offered in a registered direct offering with accompanying warrants.
Concurrent Exercise
Existing warrants are being immediately exercised with reduced exercise prices, resulting in issuing new unregistered warrants.
Proceeds Allocation
Expected gross proceeds of $5.0 million will be used for working capital and general corporate purposes.
- The offering and warrant exercise are expected to raise approximately $5.0 million in gross proceeds for Energous Corporation.
- This strategic move will enhance the company's financial position and support its working capital needs.
The successful completion of the offering and warrant exercise will strengthen Energous Corporation's financial position and support its growth initiatives in the wireless power solutions market.