Eco Wave Power announces pricing of $8M public offering and Nasdaq listing

July 3, 2021 |

In Sweden, Eco Wave Power Global AB will be listed on the U.S. Nasdaq Capital Market under the symbol “WAVE” and is expected to begin trading on July 1, 2021. The offering is expected to close July 6, 2021. The gross proceeds to the Company from the public offering are expected to be $8 million.

Eco Wave announced the pricing of an underwritten public offering of 1,000,000 American Depository Shares, representing 8,000,000 shares of EWPG’s common stock at a price to the public of $8.00 per ADS. The gross proceeds to the Company from this offering are expected to be $8 million (equivalent to approximately SEK 68,080,000 Million based on the June 30, 2021 exchange ratio of USD 1 = SEK 8.51), before deducting underwriting discounts, commissions and other offering expenses, and excluding the exercise of the over-allotment option, if any.

EWPG has granted the underwriter a 30-day option to purchase up to 150,000 additional ADSs to cover over-allotments, if any, at the public offering price, less the underwriting discounts and commissions. All of the ADSs are being offered by the Company.

EWPG’s common shares are currently listed on Nasdaq First North Growth Market (“Nasdaq First North”) under the symbol “ECOWVE”. The filing of the prospectus in the United States with the SEC has no direct implications for EWPG’s listing on Nasdaq First North in Sweden.

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Category: Fuels

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