Nanotechnology Now

Our NanoNews Digest Sponsors


Heifer International

Wikipedia Affiliate Button


DHgate

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

Nanoparticles present sustainable way to grow food crops May 1st, 2016

Searching for a nanotech self-organizing principle May 1st, 2016

Clay nanotube-biopolymer composite scaffolds for tissue engineering May 1st, 2016

Cooling graphene-based film close to pilot-scale production April 30th, 2016

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

ORIG3N Added to Companies Presenting at Harris & Harris Group's Annual Meeting, Tuesday June 7, 2016, the New York Genome Center April 27th, 2016

Philadelphia Mathematician Robert Clark Turns to Crowdfunding to Support Nanotechnology Research That Could Lead to ‘Flying’ Cars and Space Elevator April 4th, 2016

Harris & Harris Group Announces Formation of Co-Investment Fund for Accredited Investors March 9th, 2016

Clinatec Announces €30M Fundraising Campaign to Speed Research In Treatment of Neurodegenerative Diseases, Cancer and Motor Disabilities February 24th, 2016

Investments/IPO's/Splits

ORIG3N Added to Companies Presenting at Harris & Harris Group's Annual Meeting, Tuesday June 7, 2016, the New York Genome Center April 27th, 2016

Aspen Aerogels to Present at the 28th Annual ROTH Conference March 14th, 2016

Harris & Harris Group Announces Formation of Co-Investment Fund for Accredited Investors March 9th, 2016

Arrowhead to Present at Upcoming March Conferences March 1st, 2016

Announcements

Nanoparticles present sustainable way to grow food crops May 1st, 2016

Clay nanotube-biopolymer composite scaffolds for tissue engineering May 1st, 2016

Cooling graphene-based film close to pilot-scale production April 30th, 2016

Personal cooling units on the horizon April 29th, 2016

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

New spin Seebeck thermoelectric device with higher conversion efficiency created April 26th, 2016

Highlights from the Graphene Flagship April 22nd, 2016

Adding some salt to the recipe for energy storage materials: Researchers use common table salt as growth template April 22nd, 2016

Cleaning up hybrid battery electrodes improves capacity and lifespan: New way of building supercapacitor-battery electrodes eliminates interference from inactive components April 22nd, 2016

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







Car Brands
Buy website traffic