Energous (WATT) has released an update.
Energous Corporation successfully negotiated a securities purchase agreement with an institutional investor to conduct a registered direct offering. The deal involved the sale of 570,000 shares of common stock, pre-funded warrants for an additional 450,409 shares, and warrants to purchase up to 1,020,409 shares, with the combined sale price set at $1.96 per share or warrant. The offering, which closed on February 20, 2024, is expected to net the company around $1.7 million after fees and expenses. These securities, however, will not be listed on any major exchange or trading system.
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