Tuesday, 30 September 2014
Last updated 3 hours ago
Nov 10 2009 | 10:31am ET
ECOtality, Inc., the Arizona-based provider of electric vehicle (EV) recharging infrastructure, has entered into agreements with institutional investors for a capital investment of approximately $15.5 million in equity financing.
In addition to the capital increase, the debenture holders of ECOtality will convert all $9.1 million of existing debentures and related warrants into equity.
ECOtality CEO Jonathan Read says the financing will provide working capital to support the initial requirements of the company’s recent $99.8 million grant from the U.S. Department of Energy (DOE), under which it will launch “the largest deployment of electric vehicles and charging infrastructure in history.”
Known as The EV Project, it will see the deployment 10,950 Level 2 (220V) charging systems, 260 Level 3 fast-chargers and 4,700 Nissan LEAF zero-emission electric vehicles in five states. It will involve ECOtality, Nissan and over 40 other industry partners.
Concurrent with the transaction, ECOtality will provide the required notice to the Financial Industry Regulatory Authority (FINRA) to enact a 1:60 reverse stock split approved by shareholders at the August 26, 2009 Annual Shareholder Meeting.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...