Capstone Green Energy to launch stock offering

Aug. 18, 2022 4:12 PM ETCapstone Green Energy Corporation (CGRN)By: Carl Surran, SA News Editor

Environmental technology concept. Sustainable development goals. SDGs.

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Capstone Green Energy (NASDAQ:CGRN) -27.4% post-market on Thursday after saying it has launched an underwritten public offering of common shares and warrants to purchase common shares, subject to market and other conditions; offering details are not disclosed.

The company said it plans to use the proceeds for working capital, general corporate purposes and growth initiatives, including to expand its Energy as a Service long-term rental fleet.

Capstone Green Energy (CGRN) recently reported a smaller than expected Q2 loss of $0.13/share on revenues of $18.7M.

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