March 24 (Renewables Now) - US renewable and energy-efficient products and solutions provider Clean Energy Technologies Inc (NASDAQ:CETY) has priced its Nasdaq up-listing at USD 4 per share, at the low end of the targeted range, raising USD 3.9 million (EUR 3.61m) from the transaction.
The company sold 975,000 shares, which it had been marketing at USD-4.00-5.00 apiece. Some 146,250 more shares are available for potential overallotments, a press release said on Thursday.
The Costa Mesa, California-based firm, which previously traded on the OTC Markets, had its Nasdaq debut shortly after the pricing. Shares in the company opened at USD 3.49 and closed at USD 4.00 apiece after reaching an intra-day high of USD 4.30.
CETY’s market capitalisation currently stands at USD 152.6 million.
The IPO pricing came just a few days after the recyclable energy solutions provider revised the Nasdaq up-listing terms for a second time.
(USD 1 = EUR 0.927)