Any news about fresh raising of capital is almost certain to bring attention to any company and, consequently, its stock. Hence, it would not be a surprise if the Energy Plug Technologies Corp. (OTC: PLGGF) stock comes into focus today after the company made an announcement to that effect on Monday. In this feature, we take a closer look.
Private Placement Completed
On February 10, Energy Plug Technologies Corp. was in the news cycle after it announced the successful closure of the first tranche of its non-brokered private placement. The placement, which had been announced on January 22, 2025, helped the company raise as much as $1167999 in gross proceeds after it issued 7786660 units for the price of $0.15 each.
Key Details
Each unit was made up of one common share and one common share purchase warrant. The holder of a warrant would be able to pick up a share in the company at the exercise price of $0.25 up until a year from the date of closing. More importantly, Energy Plug Technologies Corp also announced in the news release that the private placement had actually been oversubscribed, and that was an indication about the enthusiasm about the company’s prospects.
