January 5, 2012
ThermoEnergy Receives $2.6M From Investors
ThermoEnergy Corp. of Worcester has received $2.63 million in investor funding.
The company said the money will help it commercialize its clean power-generation technologies and introduce a system for recovering ammonia from water in international markets.
The new funding comes from the exercise of warrants by 21 investors, brokered by Dawson James Securities. The company agreed to amend the warrants' prices, allowing the investors to buy shares of its stock at 9.5 cents per share instead of the 30 cents specified in the warrants. In exchange, the investors exercised all the warrants immediately, buying 27.7 million shares for cash.
The company's stock is currently trading at 19 cents per share on the OTC Bulletin Board.
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