BNRG - Brenmiller prices $2.5M private placement
2023-06-13 07:20:49 ET
- Brenmiller Energy ( NASDAQ: BNRG ) to offer 2.48M units in a private placement to one of the Company’s institutional shareholders. Each Unit consisting of one ordinary share and one non-tradeable warrant to purchase one ordinary share, at $1.00/unit for aggregate gross proceeds of approximately $2.5M.
- The warrants are exercisable from June 12, 2024 until June 12, 2029 at $1.20 per share, reflecting a 33% premium over the market price of the Company’s Ordinary Shares on Nasdaq at the close on June 12, 2023. The warrants are exercisable
- Closing of the offering is expected to close on June 15.
- The net proceeds from the sale of the Units will be used for working capital and general corporate purposes.
- BNRG +3.2% after hours to $0.9292
- Source: Press Release
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Brenmiller prices $2.5M private placement