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Written by / Agency / Source: ECOtality, Inc.

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ECOtality, Inc. Prices Secondary Offering - ECOtality, Inc., announced the pricing of its secondary public offering of 8,500,000 shares of its common stock at a price to the public of $2.50 per share
ECOtality, Inc. Prices Secondary Offering

 

NewswireToday - /newswire/ - San Francisco, CA, United States, 2011/06/22 - ECOtality, Inc., announced the pricing of its secondary public offering of 8,500,000 shares of its common stock at a price to the public of $2.50 per share. NASDAQ: ECTY

   
 
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ECOtality has also granted the underwriters a 30-day option to purchase up to an additional 1,275, 000 shares to cover over-allotments, if any. Subject to the satisfaction of customary conditions, the offering is expected to close on or about June 27, 2011.

Roth Capital Partners is acting as sole book-runner for the offering with ThinkEquity LLC and Craig-Hallum Capital Group acting as co-managers.

ECOtality intends to use the net proceeds from this public offering primarily for working capital related to its $100.2 million cost reimbursable contract with the U.S. Department of Energy. The company intends to use any remaining proceeds from this offering to expand its Blink infrastructure and for general corporate purposes.
A registration statement relating to this offering was filed with and declared effective by the Securities and Exchange Commission. The offering will be made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained by contacting: Roth Capital Partners, Attention: Equity Capital Markets, 24 Corporate Plaza Drive, Newport Beach, CA 92660, by telephone at (800) 678-9147, or via E: at rothecm[.]roth.com. You may also obtain a copy of the final prospectus by visiting the U.S. Securities and Exchange Commission website at sec.gov/.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy common stock of ECOtality, Inc., nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of any such state or jurisdiction.

About ECOtality

ECOtality, Inc. (ecotality.com), headquartered in San Francisco, California, is a leader in clean electric transportation and storage technologies. Through innovation, acquisitions, and strategic partnerships, ECOtality accelerates the market applicability of advanced electric technologies to replace carbon-based fuels.

Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements.

Investor Relations:
Thomas Walsh, Alliance Advisors for ECOtality
E: twalsh[.]allianceadvisors.net / P: 212-398-3486

 
 
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Written by / Agency / Source: ECOtality, Inc.

 
 

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ECOtality, Inc. Prices Secondary Offering

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Publisher Contact: Randall Grilli - ECOtality.com 
415-692-6723 rgrilli[.]ecotality.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any ECOtality, Inc. securities in any jurisdiction including any other companies listed or named in this release.

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