Bimergen Energy Prices $13.6 Million Public Offering

MT Newswires Live

Feb 20

Bimergen Energy (BESS, BESSWS) said Thursday it has priced an underwritten public offering of shares or pre-funded warrants and one accompanying warrant per share or warrant at $4.00 each, for gross proceeds of $13.6 million,

Each warrant is exercisable for one share at a price of $5.00, the company said.

Bimergen said it has also underwriters a 45-day option to purchase up to 510,000 additional shares or warrants to cover over-allotments.

The Company intends to use the proceeds to develop utility-scale battery energy storage projects and for working capital.

The shares and warrants are expected to begin trading Friday on the New York Stock Exchange under the ticker symbols "BESS" and "BESSWS", respectively, and the offering is expected to close on Monday, the company said.

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