Benzinga | Jan 5, 2021 06:34AM EST

Energous Corporation Completes $40M At-The-Market Equity Offering

Energous Corporation (NASDAQ:WATT), the developer of WattUp(r), a revolutionary wire-free, over-the-air, power-at-a-distance charging technology, today announced it has completed an offering of shares of its common stock, pursuant to an at-the-market equity program described in a prospectus supplement dated Sept. 15, 2020 and filed with the SEC. After deducting commissions and other estimated expenses, net proceeds to Energous were approximately $38.8 million. The Company intends to use the net proceeds from the offering for general corporate purposes. B. Riley Securities, Inc., Roth Capital Partners, LLC, and Ladenburg Thalmann & Co., Inc. acted as sales agents for the program, which commenced on Sept. 30, 2020 and was completed on Dec. 23, 2020. In total, approximately 18.9 million shares of common stock were sold at a weighted average stock price of $2.12. The Company is no longer offering shares of Common Stock under this program.