STEM sold 10M shares to institutional investors at a price of $1.00 per share, which represented a 9.9% discount to the closing ($1.11) price per share of 1/6/10.
- STEM receives net proceeds of $9.4M, after deducting offering expenses and fees;
- Also, granting investors an option, exercisable until 2/18/11, to purchase an additional 6 M shares at $1.00 per share;
- Volume was 9.59M shares for the day.
STEM market cap closed at $123.85M with shares traded between $0.96 and $1.04 on 1/7/11.
- The stock declined $0.135 or 12.16%, to $0.975 cents in 1/7/11’s trading.