In connection with the offering, the Company will issue 22,153,850 shares of common stock at a purchase price of $3.25 per share.
The Company intends to use the net proceeds from the equity raised today in some of the following areas:
Working Capital
Strategic investments and partnership development
Advancement of energy technology and infrastructure projects
The closing of the offering is expected to occur on or about October 24, 2025, subject to the satisfaction of customary closing conditions. Upon the closing of the offering, the company will have cash, cash equivalents, and restricted cash of approximately $155 million, of which $102 million is unrestricted cash.
A.G.P./Alliance Global Partners is acting as the sole placement agent for the Offering.
This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-290198) which was declared effective by the Securities and Exchange Commission (the "SEC") on September 22, 2025. The offering is made only by means of a prospectus supplement and accompanying prospectus which is part of the effective registration statement. A prospectus supplement and the accompanying base prospectus relating to the registered direct offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Additionally, when available, electronic copies of the prospectus supplement and the accompanying base prospectus may be obtained, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at
This press release ...
