Rochester, NY 7/14/2009 10:59:40 PM
RZ - Closing of $25.5 Million Announced by Raser Technologies
Raser Technologies, Inc.
RASER TECH INC, RZ
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Raser Technologies, Inc. nnounced today that it closed its previously announced sale of approximately $25.5 million of its common stock and warrants in a registered direct offering. Net proceeds to the Company from the offering, after placement agent fees and offering expenses, are approximately $23.8 million. Calyon Securities (USA) Inc. served as lead placement agent and RBC Capital Markets and JMP Securities LLC served as co-placement agents for the offering. Raser CEO Brent M. Cook said, "We look at this as a compelling opportunity for Raser to move forward with its development plans, as we continue to work on several sources of funding for future power plants."
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