Envision Solar Announces Pricing of $10.0 Million Public Offering of Common Stock
July 01 2020 - 09:30PM
Envision Solar International, Inc., (NasdaqCM: EVSI, EVSIW)
(“Envision Solar,” or the “Company”), a producer of unique and
sustainable infrastructure products for electric vehicle charging,
energy security and outdoor media, today announced the pricing of
its underwritten public offering of 1,212,121 shares of its common
stock at a public offering price of $8.25 per share. The gross
proceeds from the public offering will be approximately $10.0
million, before deducting underwriting discounts and commissions
and estimated offering expenses.
Maxim Group LLC is acting as the Sole
Book-Running Manager and Joseph Gunnar & Co. is acting as
co-manager for the offering.
Envision Solar also has granted to the
underwriter a 45-day option to purchase up to an additional 181,818
shares of common stock, at the public offering price less discounts
and commissions.
The public offering is being made pursuant to an
effective shelf registration statement on Form S-3 that was filed
with the U.S. Securities and Exchange Commission (SEC) on May 26,
2020 and declared effective on June 4, 2020. A preliminary
prospectus supplement describing the terms of the public offering
has been filed with the SEC. A final prospectus supplement will be
filed with the SEC and will form a part of the effective
registration statement. Copies of the final prospectus supplement
and accompanying prospectus relating to the public offering may be
obtained, when available, by contacting Maxim Group LLC, 405
Lexington Avenue, 2nd Floor, New York, NY 10174, or by telephone at
(212) 895-3745.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or 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 jurisdiction.
About Envision Solar International,
Inc.
Envision Solar, www.envisionsolar.com, produces
and sells unique and patented sustainable infrastructure products
for electric vehicle charging, energy security and outdoor media,
including the EV ARC™ and the Solar Tree® with EnvisionTrak™
patented solar tracking, SunCharge™ solar Electric Vehicle
Charging, ARC™ technology energy storage, and EnvisionMedia™ solar
advertising displays.
Based in San Diego, the company produces Made in
America products. Envision Solar is listed on the Nasdaq CM under
the symbols EVSI and EVSIW. For more information visit
www.envisionsolar.com or call (858) 799-4583. Follow us on social
media to keep up with the latest news: Linkedin, Facebook, Twitter,
Instagram, and YouTube.
Forward-Looking Statements
This Envision Solar International, Inc. Press
Release may contain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, including
statements regarding the proposed public 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. These
forward-looking statements also are subject to risks, uncertainties
and assumptions, including those detailed from time to time in the
company’s filings with the SEC, and represent the company’s views
only as of the date they are made and should not be relied upon as
representing the company’s views as of any subsequent
date.
Media Contacts: Alyson Dutch / Sherry Butler
Brown + Dutch Public Relations, Inc.
alyson@bdpr.com, sherry@bdpr.com +1 310 456 7151
Investor Relations: Tristan Traywick Senior
Account Director CORE IR 516 222 2560 tt@coreir.com
www.coreir.com
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