MSK Represents ClearSign Combustion Corporation in $12.94M Public Offering
MSK represented client ClearSign Combustion Corporation (Nasdaq: CLIR) ("ClearSign" or the "Company"), an emerging leader in industrial combustion technologies that reduce emissions and improve efficiency, in connection with its recently announced underwritten public offering, pursuant to which it offered and sold 5,000,000 shares of its common stock at a price to the public of $2.25 per share. In addition, the underwriter exercised its over-allotment option to purchase an additional 750,000 shares of common stock at the public offering price.
The gross proceeds from the offering, including the exercise of the over-allotment option, were approximately $12.94 million, excluding underwriting discounts and commissions and other offering-related expenses.
ClearSign intends to use the net proceeds from the offering primarily for sales and marketing, business development, research and development, working capital and general corporate purposes.
National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation (NasdaqCM: NHLD), acted as the sole book running manager for the offering.
The MSK deal team included New York Managing Partner Melanie Figueroa and Corporate & Business Transactions attorneys Mary Ann Sapone, Gabrielle Napolitano and Latore Price.
“I’m proud of the effort put forth by our team in getting this transaction closed,” stated MSK Vice Chairman Nimish Patel. “Our depth of experience was on display as we facilitated this important milestone for our long-time client,” Mr. Patel concluded.
About MSK
Since 1908, Mitchell Silberberg & Knupp LLP (MSK) has proven its ability to understand the complex, demystify the mysterious, and define the unknown. With more than 130 lawyers and offices in Los Angeles, New York, and Washington, D.C., MSK is often distinguished as a “go-to” firm by industry and legal insiders, and has extensive experience in a variety of practice areas, including Entertainment & IP Litigation, International Disputes, Labor & Employment, Motion Picture, Television & Music Transactions, Immigration, Corporate Securities, Regulatory, Tax, Trusts & Estates, Real Estate and International Trade. Relentlessly innovative, our lawyers have developed groundbreaking legislation, established influential precedents, and shaped the legal landscape.
About ClearSign Combustion Corporation
ClearSign Combustion Corporation designs and develops products and technologies for the purpose of improving key performance characteristics of combustion systems, including emissions and operational performance, energy efficiency and overall cost-effectiveness. Our patented Duplex™, Duplex Plug & Play™ and Electrodynamic Combustion Control™ platform technologies enhance the performance of combustion systems in a broad range of markets, including the energy (upstream oil production and down-stream refining), commercial/industrial boiler, chemical, petrochemical, and power industries. For more information, please visit www.clearsign.com.