Business
Ener-Core Signs Definitive Agreements for Private Placement Transaction
Ener-Core Signs Definitive Agreements for 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 that it entered into definitive agreements \n on December 30, 2015, with certain institutional and other accredited \n investors for a private placement of 625,000 shares of common stock at a \n price of $4.00 per share and five-year warrants to purchase up to an \n additional 312,500 shares of common stock at an exercise price of $5.00 \n per share for an aggregate offering amount of $2.5 million, before \n deducting placement agent commissions. As part of the terms of the \n private placement, the Company has agreed to file a registration \n statement to register for resale the shares of common stock and the \n shares underlying the warrants issued in the private placement. The \n private placement is expected to close on or about December 31, 2015, \n subject to satisfaction of customary closing conditions.\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 Northland Capital Markets and Lake Street Capital Markets acted as joint \n placement agents for the offering. Northland Capital Markets is the \n trade name for certain capital markets and investment banking services \n of Northland Securities, Inc., member FINRA/SIPC.\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 in this private placement have not been \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 stat...