Business
Blue Sphere Completes Financing
Blue Sphere Completes Financing.
About this update from Blue Sphere Corp
[{"type":"text","content":"\n \n \n Blue Sphere Completes Financing\n \n \nBlue Sphere Completes Financing\n\nUS$3,000,000 Debt Financing to Enhance Working Capital Position\n\n \n CHARLOTTE, NC--(Marketwired - Dec 29, 2015) - Blue Sphere Corp. (OTCQB: BLSP) (the \"Company\" or \"Blue Sphere\"), a clean energy company that acquires, develops, manages and owns waste-to-energy projects globally, announced today that on December 23, 2015 the Company closed on a debt financing round of US$3,000,000 consisting of the Company's Notes and warrants to purchase shares of Common Stock. The Notes sold in the financing have a face value of $3,000,000 and after commissions and selling expenses, the Company received net proceeds of $2,672,000. \n The Company worked with Maxim Group, LLC, a New York based investment banking firm to offer and sell the Notes. The proceeds of the financing will be used for general business activities. \n This financing at the corporate level will allow the Company to further focus on its pipeline of acquisition targets in Italy as well as further develop opportunities in the United States. Blue Sphere has worked hard to develop project finance partners as well as industry partners. \n As previously reported, the Company has recently acquired four biogas facilities in Italy and continues to develop Anaerobic Digester facilities in the United States. \n \"We are very pleased to complete this financing round. It allows us to focus on additional acquisition and development opportunities. We are also very happy with the commitment that these investors have made to our Company,\" said Shlomi Palas, the Company's CEO.\n For more detailed information, please refer to the Company's Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on December 28, 2015.\n The Notes, warrants and shares of Common Stock underlying the warrants, and any other securities offered in the above described private placement or any other securities to be offered in any proposed future private placement (collectively, the \"Securities\") have not been registered under the U.S. Securities Act of 1933, as amended (the \"Securities Act\"), or the securities laws of any other jurisdiction. Because the Securities are not registered, the Securities may not be offered or sold in the United States absent registration o...