RTTNews | Jun 17, 2021 05:55PM EDT

17:55 Thursday, June 17, 2021 (RTTNews.com) - Shares of carbon reduction company Capstone Green Energy Corp. (CGRN) are down 26 percent in Thursday's after hours trading. The company today entered into an agreement with underwriter H.C Wainwright & Co. to purchase 952,380 company shares at $5.25 per share.

The offering, which will bring in around $5 million is expected to close before June 22. The company plans to use the net proceeds from the offering for working capital, general corporate purposes and growth initiatives, including organic growth and potential future acquisitions.

In the after-market, the stock is trading at $5.39, down $1.93 or 26% on the NYSE. CGRN ended Thursday's trade down $0.03 or 0.41% at $7.32.

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