Company sells preferreds to six investors, including board members
By Marisa Wong
Madison, Wis., Feb. 24 - Summer Energy Holdings, Inc. sold a total of 1.8 million shares of series B preferred stock for a total purchase price of $1.8 million, according to an 8-K filing with the Securities and Exchange Commission.
The company entered into preferred stock purchase agreements with six investors last Friday. Several members of the company's board of directors, including Neil Leibman, Tom O'Leary and Andrew Bursten, directly or indirectly participated in the offering.
Proceeds will be used for working capital and general corporate purposes.
The electricity provider is based in Houston.
| Issuer: | Summer Energy Holdings, Inc.
|
| Issue: | Series B preferred stock
|
| Amount: | $1.8 million
|
| Shares: | 1.8 million
|
| Warrants: | No
|
| Investors: | Six, including direct or indirect participation from board members Neil Leibman, Tom O'Leary and Andrew Bursten
|
| Settlement date: | Feb. 21
|
| Stock symbol: | OTCBB: SUME
|
| Stock price: | $2.45 at close Feb. 14
|
| Market capitalization: | $34.21 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
