Brenmiller Energy Prices 1M Shares At $1.05/Share Under A Private Placement
Portfolio Pulse from Benzinga Newsdesk
Brenmiller Energy Ltd. (NASDAQ: BNRG) has entered into a securities purchase agreement with an existing institutional investor to issue 1 million shares at $1.05 per share, raising approximately $1.05 million. The share price reflects a 52% premium to the closing price on August 2, 2024. The investor has the option to purchase an additional 1 million shares if the stock price reaches $2.50 within the next 12 months. The proceeds will be used for general corporate purposes.
August 05, 2024 | 11:07 am
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Brenmiller Energy Ltd. (NASDAQ: BNRG) has announced a private placement of 1 million shares at $1.05 per share, raising approximately $1.05 million. The share price is a 52% premium to the closing price on August 2, 2024. The investor has the option to purchase an additional 1 million shares if the stock price reaches $2.50 within the next 12 months. The proceeds will be used for general corporate purposes.
The private placement at a 52% premium indicates strong investor confidence and provides the company with additional capital for general corporate purposes. This is likely to have a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100