Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - COMVERGE, INC. | form8-k11192009.htm |
| EX-1.1 - UNDERWRITING AGREEMENT - COMVERGE, INC. | exhibit1-1ua.htm |
| EX-5.1 - OPINION AND CONSENT OF BAKER BOTTS LLP - COMVERGE, INC. | exhibit5-1op.htm |
EXHIBIT
99.1
FOR IMMEDIATE
RELEASE
Comverge
Announces Pricing of Underwritten Offering of Common Stock
East Hanover, NJ - November 19,
2009: Comverge, Inc. (Nasdaq:COMV), a leading provider of comprehensive
smart grid, demand management, and energy efficiency solutions, announced today
the pricing of an underwritten offering of 2.4 million shares of common stock at
$10.50 per share. Comverge has also granted the underwriters the option to
purchase up to 360,000 additional shares of common stock to cover
over-allotments, if any. Comverge intends to use the net proceeds
from this offering of approximately $23.5 million (and the net proceeds from any
exercise of the underwriters’ option to purchase additional shares of common
stock) to repay outstanding indebtedness, finance the capital requirements of
its current and future contracts, as well as research and development, and for
other general corporate purposes.
RBC
Capital Markets Corporation and Lazard Capital Markets LLC acted as joint
book-running managers for the offering. Robert W. Baird & Co. Incorporated
and Stephens Inc. acted as co-managers.
This
press release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation, or sale would be unlawful prior
to registration or qualification under the securities laws of such state or
jurisdiction.
The
shares are being offered through Comverge’s effective shelf registration
statement. You may obtain copies of the prospectus supplement and accompanying
prospectus related to this offering free of charge by visiting the SEC’s website
at www.sec.gov
or from RBC Capital Markets Corporation, Three World Financial Center, 200 Vesey
Street, 8th
Floor, New York, NY 10281-8098, Attention: Equity Syndicate, (212) 428-6670, or
Lazard Capital Markets LLC, 30 Rockefeller Plaza, New York, NY 10020, Attention:
Syndicate Department, 60th
Floor, (212) 632-6717.
About
Comverge
Comverge,
with over 3,300 megawatts of clean energy capacity under management, is a
leading provider of clean energy solutions that improve grid reliability and
supply electric capacity on a more cost-effective basis than conventional
alternatives by reducing base load and peak load energy consumption. For more
information, visit www.comverge.com.
For
Comverge Investors
This
press release includes statements regarding the offering that may constitute
forward-looking statements. Such forward-looking statements are subject to a
variety of known and unknown risks, uncertainties, and other factors that are
difficult to predict and many of which are beyond management’s control. Factors
that can affect future results are discussed in Comverge’s most recent annual
report on Form 10-K, quarterly reports on Form 10-Q and other reports filed by
Comverge from time to time with the SEC and included in the prospectus
supplement and accompanying prospectus related to this offering. Comverge
undertakes no obligation to update or revise any forward-looking statement to
reflect new information or events.
For
Additional Information
Dan
Pfeffer Kristin
Mastrandrea
Investor
Relations Media
Relations
Comverge,
Inc. Comverge,
Inc.
678-802-8302 973-434-7157
invest@comverge.com kmastrandrea@comverge.com