Capstone Turbine Corp. entered into a definitive agreement with several institutional investors to sell 10.2 million shares of common stock, or pre-funded warrants in lieu of shares, at a purchase price of 50 cents per share in a registered offering.
The proceeds of $5.1 million from the offering will be used for working capital and general corporate purposes, according to a news release.
Capstone also agreed to issue the investors unregistered warrants to purchase up to 7.65 million shares of common stock. The warrants have an exercise price of 61.21 cents per share, will be exercisable on April 2, 2020, and will expire five years following the initial exercisability date.
