MILWAUKEE, WI–(Marketwired – August 22, 2014) –
ZBB Energy Corporation (NYSE MKT: ZBB) (the “Company”), a leading developer of intelligent, renewable energy power platforms and hybrid vehicle control systems, today announced that it has priced a firm commitment underwritten public offering of 11,520,000 shares of its common stock at a price to the public of $1.12. In addition, the underwriter has exercised in full its option, granted by the Company, to purchase up to 1,728,000 additional shares of common stock to cover over-allotments. The offering is expected to close on or about August 27, 2014, subject to satisfaction of customary closing conditions.
The total gross proceeds of the offering are expected to be approximately $14,837,760. After deducting the underwriter’s discount and other estimated offering expenses payable by the Company, the net proceeds are expected to be approximately $13,547,494. These amounts include the exercise of the underwriter’s over-allotment option. The Company intends to use the net proceeds of the offering for general corporate and working capital purposes.
Craig-Hallum Capital Group LLC acted as sole managing underwriter for the offering.
A shelf registration statement relating to these securities was previously filed with, and declared effective by, the U.S. Securities and Exchange Commission on June 25, 2014. A preliminary prospectus supplement related to the offering was filed with the U.S. Securities and Exchange Commission on August 18, 2014. Copies of the final prospectus supplement and accompanying prospectus for the offering may be obtained by contacting Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, by calling 612-334-6300. An electronic copy of the final prospectus supplement and accompanying prospectus relating to the offering is available on the website of the U.S. Securities and Exchange Commission at www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of the ZBB Energy Corporation, and shall not constitute an offer, solicitation or sale of any security in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.