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VC investments Sustainable Energy

Published on December 21st, 2012 | by Ted Liu

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Sustainable Energy announces Doughty Hanson financing and share consolidation

Sustainable Energy Technologies Ltd. (TSX-V: STG) said it intends to consolidate its issued and outstanding common shares on a ten-to-one basis.

The proposed consolidation was approved by shareholders on August 21, 2012. Subject to TSX Venture Exchange approval, Sustainable Energy Technologies post-consolidated shares will begin trading on the TSX-V at market open on December 27, 2012 under the same stock symbol “STG”.

Upon closing of the consolidation, Sustainable Energy Technologies will have 20,915,581 shares issued and outstanding.

Following the consolidation, Doughty Hanson Technology Ventures intends to acquire 50,000 units at a price of $10 per unit, each unit being comprised of one, 8%, five-year First Preferred Shares, Series 13, convertible into common shares at a conversion price of $0.40 per share and 25 five-year common share purchase warrants exercisable at a price of $0.50 per share.

The financing will provide additional capital to Sustainable Energy Technologies to shift production to its 3rd generation PARALEX “STX” inverter for North American and Japanese solar PV markets; and to begin first production of its “AC Battery” for markets in Germany and Japan.

Doughty Hanson Technology Ventures, through DHCT II Luxembourg S.a.r.l., currently owns 6% of Sustainable Energy Technologies common share, 61% of Series 7 Preferred Shares, 78% of Series 9 Preferred Shares, and 100% of Series 10, 11, 12 Preferred Shares for a 22.5% voting stake.

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About the Author

Ted is an editor of CVCA News and Research Director for CVCA - Canadian Venture Capital & Private Equity Association. Ted has been following Canadian venture capital and private equity industry since 1993.



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