Capstone Raises $6.8 Million in Private Placement

Capstone Turbine Corp. will sell 6.3 million shares of its common stock to two institutional investors, it was announced Tuesday. The Chatsworth company expects to net about $6.8 million from the sale that will go toward general corporate purposes and fund general working capital. The stock offering involves an existing investor and a new accredited investor. They will buy 3.6 million in common shares and receive warrants to purchase 2.7 million shares at the price of $1.20 a share. “We appreciate the support of our investors as we continue to pursue several larger multi-megawatt projects,” Capstone Chief Executive Darren Jamison said in a prepared statement. “Maintaining a strong balance sheet is critical to our business.” Oppenheimer & Co. Inc., in New York, acted as the lead placement agent and Roth Capital Partners, in Newport Beach, acted as co-placement agent. Shares closed up a cent, or just less than 1 percent, to $1.11 on the Nasdaq.