Brenmiller Raises $2M Through ATM Offering, Bringing Total 2024 Proceeds To $10.8M; Signs $1.05M Private Placement Deal At 52% Premium
Portfolio Pulse from Benzinga Newsdesk
Brenmiller Energy has raised $2M through an ATM offering, totaling $10.8M for 2024, and signed a $1.05M private placement deal at a 52% premium. The company plans to avoid ATM sales below $3/share and focus on funding HaaS projects through third-party finance, with a potential $500M pipeline.
September 09, 2024 | 12:37 pm
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Brenmiller Energy raised $2M through an ATM offering, bringing 2024 proceeds to $10.8M, and signed a $1.05M private placement deal at a 52% premium. The company aims to avoid ATM sales below $3/share and is focusing on funding HaaS projects through third-party finance, with a potential $500M pipeline.
The successful capital raise and premium private placement indicate strong investor confidence. The focus on third-party financing for HaaS projects suggests a strategic move to expand without diluting equity, which is positive for shareholders. The avoidance of ATM sales below $3/share shows a commitment to maintaining stock value.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100