Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > Ener1, Inc. Raises $29.7 Million of Equity Capital Through Warrant Exercise

Abstract:
Ener1, Inc. (Amex: HEV), an energy storage solutions company, today announced that it raised $29.7 million through the recent exercise of common stock warrants at an exercise price of $5.25 per share. The warrants were issued in November 2007 as part of an equity placement totaling $32 million. Holders of the warrants received a total of 5.6 million shares of Ener1, Inc. common stock. Total shares outstanding, post dilutive issuance now stands at 110 million. The additional $29.7 million increases Ener1's cash position on its balance sheet to approximately $42.5 million.

Ener1, Inc. Raises $29.7 Million of Equity Capital Through Warrant Exercise

FT. LAUDERDALE, FL | Posted on May 21st, 2008

"As anticipated, all of the institutional investors that participated in the November 2007 financing exercised their warrants," said Charles Gassenheimer, Chairman of Ener1, Inc. "The only investor that did not exercise its warrants was a family trust that already has a substantial investment in Ener1. We are pleased with the results of the November financing round, and believe that this provides us the foundation for growth and certainty, in an uncertain capital markets environment. Additionally, we intend this to be the last form of private financing, and should any capital need to be raised, it will be in the form of public financing. We also now have access to a $7 million equipment lease facility that will help finance our plant expansion in Indianapolis and increase our financial flexibility."

####

About Ener1, Inc.
Ener1, Inc. (Amex: HEV) is an energy storage solutions company that is developing and commercializing advanced, high-performance safe lithium-ion (Li-ion) batteries for hybrid electric vehicles (HEVs), plug-in HEVs (PHEVs) and electric vehicles (EVs). Ener1 is also developing commercial fuel cell products through its EnerFuel subsidiary and nanotechnology-based materials and manufacturing processes for batteries and other applications through its NanoEner subsidiary. For more information, visit http://www.ener1.com and http://www.enerdel.com or call (212) 920-3500.

For more information, please click here

Contacts:
Rachel Carroll
VP Corporate Communications
P: 212 920 3500*105
E:

Copyright © PR Newswire Association LLC.

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

U.S. Air Force Research Lab Taps IBM to Build Brain-Inspired AI Supercomputing System: Equal to 64 million neurons, new neurosynaptic supercomputing system will power complex AI tasks at unprecedented speed and energy efficiency June 23rd, 2017

Rice U. chemists create 3-D printed graphene foam June 22nd, 2017

Tiny bubbles provide tremendous propulsion in new microparticles research-Ben-Gurion U. June 21st, 2017

Enhanced photocatalytic activity by Cu2O nanoparticles integrated H2Ti3O7 nanotubes June 21st, 2017

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

Forge Nano 2017: 1st Quarter Media Update April 20th, 2017

180 Degree Capital Corp. Announces the Start of Kevin Rendino as Chairman and Chief Executive Officer and Completion of its Transition to a Registered Closed-End Fund March 31st, 2017

Caught on camera -- chemical reactions 'filmed' at the single-molecule level March 22nd, 2017

Harris & Harris Group Issues Its Financial Statements as of December 31, 2016, Posts Its Annual Shareholder Letter, And Will Host a Conference Call for Shareholders on Friday, March 17, 2017 March 15th, 2017

Investments/IPO's/Splits

180 Degree Capital Corp. Announces the Start of Kevin Rendino as Chairman and Chief Executive Officer and Completion of its Transition to a Registered Closed-End Fund March 31st, 2017

Harris & Harris Group Issues Its Financial Statements as of December 31, 2016, Posts Its Annual Shareholder Letter, And Will Host a Conference Call for Shareholders on Friday, March 17, 2017 March 15th, 2017

Harris & Harris Group Announces the Filing of Preliminary Proxy Materials Detailing Its Proposed Conversion From a BDC to a Registered Closed-End Fund January 24th, 2017

Harris & Harris Group Issues Reminder for Shareholder Update Call on January 10, 2017 January 10th, 2017

Announcements

U.S. Air Force Research Lab Taps IBM to Build Brain-Inspired AI Supercomputing System: Equal to 64 million neurons, new neurosynaptic supercomputing system will power complex AI tasks at unprecedented speed and energy efficiency June 23rd, 2017

Rice U. chemists create 3-D printed graphene foam June 22nd, 2017

Tiny bubbles provide tremendous propulsion in new microparticles research-Ben-Gurion U. June 21st, 2017

Enhanced photocatalytic activity by Cu2O nanoparticles integrated H2Ti3O7 nanotubes June 21st, 2017

Battery Technology/Capacitors/Generators/Piezoelectrics/Thermoelectrics/Energy storage

Rice U. chemists create 3-D printed graphene foam June 22nd, 2017

Smart materials used in ultrasound behave similar to water, Penn chemists report June 16th, 2017

X-ray Study Reveals Way to Control Molecular Vibrations that Transmit Heat: Findings open new pathway for "tuning" materials to ease or insulate against the flow of heat, sound, and other forms of energy June 7th, 2017

Graphene-nanotube hybrid boosts lithium metal batteries: Rice University prototypes store 3 times the energy of lithium-ion batteries May 19th, 2017

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project