Corporate ActionJun 18, 2026, 04:22 PM
ClearSign Technologies Raises $470,858 from Over-allotment Option
AI Summary
ClearSign Technologies Corporation announced that its underwriter, Newbridge Securities Corporation, fully exercised the over-allotment option on June 18, 2026. This resulted in the sale of an additional 116,667 shares of common stock, generating net proceeds of approximately $470,858 for the company. The funds are intended for working capital, research and development, marketing and sales, and general corporate purposes.
Key Highlights
- Underwriter fully exercised over-allotment option for 116,667 additional shares of common stock.
- ClearSign Technologies received net proceeds of approximately $470,858 from the share sale.
- Proceeds will be used for working capital, research and development, marketing, sales, and general corporate purposes.
- The initial public offering of 777,780 shares closed on June 1, 2026, at $4.33 per share.
- The over-allotment option allowed for the purchase of up to an additional 116,667 shares.
Price Impact
More from CLIR