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Energous Corporation Completes $40 Million At-The-Market Equity Offering
SAN JOSE, Calif.--(BUSINESS WIRE)-- Energous Corporation (NASDAQ: WATT), the developer of WattUp®, a revolutionary wire-free, over-the-air,
About this update from Energous Corporation
[{"type":"text","content":" SAN JOSE, Calif.--(BUSINESS WIRE)--\nEnergous Corporation (NASDAQ: WATT), the developer of WattUp®, a revolutionary wire-free, over-the-air, power-at-a-distance charging technology, today announced it has completed an offering of shares of its common stock, pursuant to an at-the-market equity program described in a prospectus supplement dated Sept. 15, 2020 and filed with the SEC. After deducting commissions and other estimated expenses, net proceeds to Energous were approximately $38.8 million. The Company intends to use the net proceeds from the offering for general corporate purposes. B. Riley Securities, Inc., Roth Capital Partners, LLC, and Ladenburg Thalmann & Co., Inc. acted as sales agents for the program, which commenced on Sept. 30, 2020 and was completed on Dec. 23, 2020. In total, approximately 18.9 million shares of common stock were sold at a weighted average stock price of $2.12. The Company is no longer offering shares of Common Stock under this program.\n\nAbout Energous Corporation\n\nEnergous Corporation (Nasdaq: WATT) is leading the next generation of wireless charging – wireless charging 2.0 – with its award-winning WattUp® technology, which supports fast, efficient contact-based charging, as well as charging at a distance. WattUp is a scalable, RF-based wireless charging technology that offers substantial improvements in contact-based charging efficiency, foreign object detection, orientation freedom and thermal performance compared to older, coil-based charging technologies. The technology can be designed into many different sized electronic devices for the home and office, as well as the medical, industrial, retail, and automotive industries, and it ensures interoperability across products. Energous develops silicon-based wireless power transfer (WPT) technologies and customizable reference designs. These include innovative silicon chips, antennas, and software, for a large variety of applications, such as smartphones, fitness trackers, hearables, medical sensors and more. Energous received the world’s first FCC Part 18 certification for at-a-distance wireless charging, and the company has 230 awarded patents for its WattUp wireless charging technology to-date. For more information, please visit Energous.com.\n\nSafe Harbor Statement\n\nThis press release contains forward-looking statements within the me...