Charlotte, North Carolina based anaerobic digestion and renewable energy developer, Blue Sphere Corp. (OTCQB: BLSP) has closed on a financing round of $3 million as it continues its program of acquisitions.
The company explained that while the financing has a face value of £3 million, after commissions and selling expenses it has netted £2,672,000.
To secure the deal it worked with the Maxim Group, a New York based investment banking firm to market and close the private placement of Notes which will be used for general business activities.
According to Blue Sphere, the financing will allow it to focus on its large pipeline of acquisition targets in Italy as well as further development opportunities in the United States.
The Company's recently acquired four biogas facilities in Italy (see WMW story) and continues to develop Anaerobic Digester facilities in the United States
Blue Sphere added that the terms of the financing will be more particularly defined in an 8K filed with the Securities and Exchange Commission.
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