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Active Power Inc prices public offering of common stock


Wednesday, 26 Feb 2014 08:15am EST 

Active Power Inc:Says pricing of its underwritten public offering of an aggregate of 3,175,000 newly issued shares of common stock at a price of $3.15 per share.Expects to receive gross proceeds of $10.0 million before deducting underwriting discounts and estimated offering expenses.The underwriter has also been granted a 30-day option to purchase up to 476,250 shares of common stock to cover over-allotments, if any.Net proceeds to the company from the Offering are expected to be about $9.4 million after deduction of underwriting discounts.Subject to customary conditions, the Offering is expected to close on March 3, 2014.Expects to use the net proceeds from the Offering for working capital and other general corporate purposes. 

Company Quote

1.93
-0.09 -4.46%
1:15pm EDT