Capstone Shares Plunge After Pricing $8M Public Offering

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  • Capstone Green Energy Corp CGRN shares plunge after pricing the public offering consisting of ~2.93 million shares of its common stock and accompanying warrants to purchase 2.93 million shares at a combined public offering price of $2.75 per share and accompanying warrant.
  • The warrants have an exercise price of $2.75 per share, are exercisable immediately, and will expire five years following the date of issuance.
  • The offering is expected to close on August 23, 2022.
  • The gross proceeds are expected to be ~$8 million. Capstone intends to use the net proceeds for general corporate purposes and growth initiatives, including expanding its Energy as a Service long-term rental fleet.
  • Price Action: CGRN shares are trading lower by 37% at $2.48 on the last check Friday.
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