Energous Corporation Prices Public Offering of Common Stock
SAN JOSE, CA -- (Marketwired) -- 11/17/15 -- Energous Corporation ("Energous®" or "the Company") (NASDAQ: WATT), the developer of WattUp™, a revolutionary wire-free charging technology for mobile and IoT devices that provides "over-the-air" power at a distance of up to 15 feet, today announced the pricing of an underwritten public offering of 2,608,700 shares of its common stock at a price of $6.90 per share to the public. Energous has also granted the underwriters a 30-day option to purchase up to an additional 391,305 shares of common stock to cover overallotments in connections with the offering. The net proceeds to Energous from this offering are expected to be approximately $16.5 million, after deducting the underwriting discount and estimated offering expenses payable by Energous. The Company intends to use the net proceeds from this offering to accelerate its product development efforts, regulatory activities, business development and support functions, and for general and administrative expenses and other general corporate purposes. The offering is expected to close on or about November 20, 2015, subject to customary closing conditions.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., and Roth Capital Partners, LLC are acting as joint book-running managers for the offering. National Securities Corporation, a subsidiary of National Holdings, Inc., is acting as co-manager.
The securities described above are being offered by Energous pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (the "SEC"). A prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov. Copies of the preliminary prospectus supplement and the related base prospectus relating to this offering may be obtained by contacting Ladenburg Thalmann & Co. Inc., 570 Lexington Avenue, 11th Floor, New York, NY 10022, or by email at email@example.com, or by contacting Roth Capital Partners, LLC, Equity Capital Markets, 888 San Clemente Drive, Newport Beach, CA 92660, at (800) 678-9147, or by e-mail at firstname.lastname@example.org.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Energous Corporation
Energous Corporation (NASDAQ: WATT) is developing WattUp, an award-winning 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 revolutionary, wire-free charging solution that delivers intelligent, scalable power via the same radio bands as a Wi-Fi router. WattUp differs from current wireless charging systems in that it will deliver meaningful, usable power, at a distance, to multiple devices, resulting in a wire-free experience that saves users from having to remember to plug in their devices or place them on a mat. For more information, please visit Energous.com, or follow Energous on Twitter and Facebook.
This announcement 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, including statements regarding the proposed public offering and the intended use of proceeds from the offering. The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. Investors should not to place undue reliance on the forward-looking statements contained in this release. All statements in this release that are not based on historical fact are "forward-looking statements". 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 most recent annual report on Form 10-K and any subsequent quarterly reports on Form 10-Q. 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.
Investor Relations Contact:
MZ North America
Source: Energous Corporation
Released November 17, 2015