Energous Corporation Announces Exercise of Underwriters’ Over-Allotment Option
PLEASANTON, Calif.-- Energous Corporation (“Energous” or “the Company”) (Nasdaq: WATT), a developer of a disruptive wire-free charging technology, announced that the underwriter for its initial public offering exercised its entire over-allotment option to purchase an additional 600,000 shares of the Company’s common stock. Total gross proceeds of Energous’ initial public offering, including the over-allotment, were $27.6 million.
MDB Capital Group LLC acted as the underwriter for the offering.
Energous sold the securities described above pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Copies of the final prospectus relating to this offering may be obtained from: MDB Capital Group LLC, 401 Wilshire Boulevard, Suite 1020, Santa Monica CA 90401; (310) 526-5000.
About Energous Corporation
Energous Corporation is developing WattUpTM, a wire-free charging technology that will transform the way people charge and power their electronic devices at home, in the office, in the car and beyond. WattUp is a novel, patent- and trademark-pending solution that delivers intelligent, scalable power via the same radio bands as a Wi-Fi router. WattUp differs from current wire-free charging systems in that it allows users to roam and use their devices while charging. The result is a true wire-free experience that saves users from having to remember to plug in their devices or place them on a mat. Energous will initially license WattUp to the mobile accessory market, with an eye toward expanding to other markets over time. For more information, please visit www.energous.com.
About MDB Capital Group
MDB Capital Group is Wall Street's only IP-focused investment bank, with over 15 years of experience launching development stage disruptive technology companies into the public markets. MDB maximizes the value of disruptive technology companies by positioning them to attract growth capital, strengthening their patent portfolios to create sustainable competitive advantages, and connecting them with a base of high-quality investors with deep technology expertise. For more information, please visit www.mdb.com.
Safe Harbor Statement
This press 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 and Exchange Act of 1934, as amended, that are intended to be covered by the "safe harbor" created by those sections. All statements in this release that are not based on historical fact are "forward looking statements". While management has based any forward looking statements included in this release on its current expectations, the information on which such expectations were based may change. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our recently filed registration statement on Form S-1. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
MZ North America
Matt Hayden, Chairman
Source: Energous Corporation
Released April 2, 2014