Secondary Stock OfferingsBy The Online Investor Staff, updated Sun., Feb. 25, 8:16 PM
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Slide #2. ClearSign Combustion Corporation — Secondary Offering
ClearSign Combustion Corporation (NASDAQ:CLIR)
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Price Per Share:
Secondary Offering Details:
ClearSign Combustion Corporation (Nasdaq: CLIR) ("ClearSign" or the "Company"), an emerging leader in industrial combustion technologies that reduce emissions and improve efficiency, today announced that it is proposing to offer and sell, subject to market conditions, shares of its common stock in an underwritten public offering. ClearSign expects to grant the underwriter a 45-day option to purchase up to an additional 15 percent of the shares of common stock offered in the public offering to cover over-allotments, if any. All of the common stock is being offered by the Company. ClearSign intends to use the net proceeds from the offering primarily for research and development, sales and marketing, business development, working capital and general corporate purposes. The final terms of the offering will depend on market and other conditions at the time of pricing, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. -updated 2/23- ClearSign Combustion Corporation (Nasdaq: CLIR) ("ClearSign" or the "Company"), an emerging leader in industrial combustion technologies that reduce emissions and improve efficiency, today announced the pricing of its previously announced underwritten public offering. ClearSign is offering 5,000,000 shares of its common stock, par value $0.0001 per share, at a price to the public of $2.25 per share. In connection with the offering, ClearSign has also granted the underwriter a 45-day option to purchase up to an additional 750,000 shares of common stock offered in the public offering to cover over-allotments, if any.
ClearSign Combustion designs and is developing technologies to improve performance characteristics of combustion systems. Co.'s patented Duplex and Electrodynamic Combustion Control (ECC) platform technologies improve the combustion systems in a range of markets. Co.'s Duplex technology uses a porous ceramic tile above a standard burner to significantly reduce flame length and achieve low emissions without the need of external flue gas recirculation, selective catalytic reduction, or excess air systems. Co.'s ECC technology introduces a computer-controlled high voltage electric field into a combustion volume in order to control gas-phase chemical reactions and improve system performance.
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