CLIR - ClearSign Technologies prices underwritten public offering

ClearSign Technologies (NASDAQ:CLIR) has announced the pricing of an underwritten public offering of 3.64M shares of its common stock at a price to the public of $1.11/share, for gross proceeds of $4.04M. Underwriters were granted a 30-day option to purchase, at the same price per share as the underwriters paid for the initial shares. Additional 546K shares to cover over-allotments in connection with the offering, which if exercised in full would increase the gross proceeds to ~$4.65M. Net proceeds will be used for working capital, research and development, marketing and sales, and general corporate purposes. The offering is expected to close on or about June 1, 2022. CLIR -19.08% premarket to $1.06.

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ClearSign Technologies prices underwritten public offering