Business
SolarWindow Completes Financing to Advance Manufacturing, Marketing, and Product Fabrication
SolarWindow Completes Financing to Advance Manufacturing, Marketing, and Product Fabrication.
About this update from Solarwindow Technologies, Inc.
[{"type":"text","content":"\n \n SolarWindow Technologies, Inc. (OTCQB: WNDW) is pleased to announce that \n the company has completed a private placement financing for \n approximately $2.6 million (the “Financing”) from four investors, three \n of whom have been long-term shareholders and supporters of SolarWindow. \n The company intends to use the proceeds from the Financing for general \n working capital purposes, including the further advancement of its \n previously announced manufacturing, marketing and product fabrication \n initiatives for its electricity-generating glass products for commercial \n buildings.\n \n \n “With this round of financing in hand and a Process Integration and \n Production Agreement with Triview Glass Industries, an award-winning \n custom glass fabricator, we’re moving forward with turning our \n first-ever inventions into first-ever electricity-generating windows,” \n states John Conklin, President and CEO of SolarWindow Technologies.\n \n \n Targeting commercial buildings, such as tall towers and skyscrapers, \n which consume almost 40% of all the electricity generated in the U.S., \n the company’s electricity-generating windows could reduce electricity \n costs by 30%-50% and shows a one-year financial payback for building \n owners, which is the industry’s fastest published financial return \n according to independently-validated company power and financial \n modeling.\n \n \n The Financing consisted of the issuance by the company of 821,600 units \n at a purchase price of $3.11 per unit, with each unit consisting of 1 \n share of common stock and 1 share purchase warrant, having an initial \n exercise price of $3.42 and a five-year term. The securities sold in the \n Financing have not been registered under the United States Securities \n Act of 1933, as amended (the \"Securities Act\"), and may not be offered \n or sold in the U.S. absent registration or an applicable exemption from \n registration requirements. As part of the Financing, the company has \n agreed to file a resale registration statement on Form S-1 with the \n United States Securities and Exchange Commission within 30 days of the \n closing of the Financing for purposes of registering the resale of the \n shares of common stock issued or issuable in connection with the \n Financing. All securities issued in...