Business
Ener-Core Closes $3.0 Million Private Placement Transaction
Ener-Core Closes $3.0 Million Private Placement Transaction.
About this update from Ener Core Inc
[{"type":"text","content":"\n \n Ener-Core, Inc. (“Ener-Core”) (OTCQB:ENCR), a provider of commercialized Power \n Oxidation technology and equipment that generates clean power from \n low-quality waste gases and is deployable in a wide variety of \n industries, today announced the closing of a private placement with an \n accredited investor of 696,056 shares of common stock on April 11, 2016 \n at a price of $4.31 per share for an aggregate offering amount of $3.0 \n million. No placement agent commissions were paid in connection with \n this private placement transaction.\n \n \n Ener-Core intends to use the proceeds from the private placement for \n general corporate purposes and to continue supporting the fulfillment of \n product deliveries against closed commercial orders.\n \n \n Further details regarding the private placement are described in a \n Current Report on Form 8-K to be filed with the Securities and Exchange \n Commission.\n \n \n The securities offered and sold in this private placement were not \n registered under the Securities Act of 1933, as amended, and may not be \n offered or sold in the United States absent registration or an \n applicable exemption from registration. This press release shall not \n constitute an offer to sell, or the solicitation of an offer to buy, any \n of the securities described herein, nor shall there be any sale of these \n securities in any state or jurisdiction in which such offer, \n solicitation, or sale would be unlawful prior to the registration or \n qualification under the securities laws of any such state or \n jurisdiction.\n \n \n About Ener-Core, Inc.\n \n \n Irvine, California-based Ener-Core, Inc. designs, develops, manufactures \n and has commercially deployed unique systems that generate base-load, \n clean power from polluting waste gases including methane. Ener-Core’s \n patented Power Oxidizer turns one of the most potent pollution sources \n into a profitable source of base-load clean energy. Ener-Core’s \n technology offers an alternative to the flaring (burning) of gaseous \n pollution while generating operating efficiencies and reducing the costs \n of compliance with environmental regulations.\n \n \n Ener-Core offers a variety of platforms including the 250kW Ener-Core \n Powerstation EC250, the Ener-Core Power Oxidizer 333 kW Powerstation and \n the larg...