Deal will be conducted by bookrunner Craig-Hallum Capital Group
By Devika Patel
Knoxville, Tenn., Aug. 22 – ZBB Energy Corp. priced a $12.9 million public offering of stock with a $1.94 million greenshoe, which has been fully exercised for total proceeds of $14.84 million, according to a prospectus supplement filed Friday with the Securities and Exchange Commission. The deal was announced Monday.
The company will sell 13,248,000 common shares at $1.12 apiece. The price per share is a 22.22% discount to the Aug. 21 closing share price of $1.44. Of the shares, 1,728,000 are part of the fully exercised greenshoe.
Craig-Hallum Capital Group is the bookrunning manager.
Settlement is expected Aug. 27.
Proceeds will be used for working capital and general corporate purposes.
Based in Bibra Lake, Western Australia, ZBB is develops energy storage technologies.
| Issuer: | ZBB Energy Corp.
|
| Issue: | Common shares
|
| Amount: | $14,837,760 (including $1,935,360 greenshoe exercise)
|
| Shares: | 13,248,000
|
| Price: | $1.12
|
| Warrants: | No
|
| Bookrunner: | Craig-Hallum Capital Group LLC
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| Announcement date: | Aug. 18
|
| Pricing date: | Aug. 22
|
| Settlement date: | Aug. 27
|
| Stock symbol: | NYSE: ZBB
|
| Stock price: | $1.44 at close Aug. 21
|
| Market capitalization: | $29.8 million
|
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