|
Xethanol Raises up to $46 Million in Equity Capital
Monday April 17, 8:00 am ET
NEW YORK--(BUSINESS WIRE)--April 17, 2006--Xethanol Corporation (OTCBB:XTHN - News), a biotechnology driven ethanol company, announced today that that it has closed its previously announced equity financing transactions, in which it has raised approximately $34 million and could raise up to an additional approximately $12 million in equity capital.
ADVERTISEMENT
In the first transaction, Xethanol received more than $30 million from the issuance of shares of its common stock to institutional and private investors. Over the next three years, Xethanol could receive up to an additional $10.6 million from the exercise of warrants issued to these investors.
In the second transaction, Xethanol received $4 million from the issuance of shares of its common stock to Goldman Sachs & Co. Over the next three years, Xethanol could receive up to an additional $1.4 million from the exercise of warrants issued to Goldman Sachs.
Northeast Securities LLC acted as placement agent for these financings. Christopher d'Arnaud-Taylor, Chairman and CEO of Xethanol stated, "It was a pleasure working with David Chiang and his team at Northeast Securities. The Company is extremely fortunate to gain the support of the investors brought to these financings."
XETHANOL CORPORATION (OTC BB:XTHN.OB) Delayed quote data
Last Trade: 14.25
Trade Time: 4:00PM ET
Change: 3.40 (+31.34%)
|