Wilsonville, Ore.-based Xzeres Wind Corp. has completed an equity financing in the amount of $4 million in a private placement of about 4 million shares ($1 per share) to a group of institutional investors and individuals.
In addition, each purchaser of Xzeres common stock also received warrants to purchase additional shares in an amount equal to 35% of the number of shares purchased by that investor, exercisable at $1.25 per share. The company plans to use these proceeds for sales and marketing, product enhancement, expansion of its assembly and test facilities, and general working capital.
SOURCE: Xzeres Wind Corp.
