MKTY - Mechanical Technology raises $15M through equity offering

Mechanical Technology ([[MKTY]] +12.2%) has priced public offering of 2,419,355 common stock, together with accompanying warrants to purchase up to 604,839 shares of common stock at the combined offering price of $6.20. Each share of common stock will be sold in combination with an accompanying warrant to purchase .25 of one share of common stock issued for each share of common stock sold.The five-year warrant will have an initial exercise price of $8.24 per share. Underwriters' over-allotment is an additional 362,903 shares together with accompanying warrants to purchase up to 90,726 common stock.Offering is expected to close on April 29. Net proceeds together with other available funds will be used for funding the acquisition, development and growth of data centers, including cryptocurrency mining processors, other computer processing equipment, data storage, electrical infrastructure, software and real property (i.e. land and buildings) and business, product line or asset acquisitions related to MTI

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Mechanical Technology raises $15M through equity offering