ZBB Energy Corp. (ZBB) said Friday that it has entered into a common stock purchase agreement with Aspire Capital Fund, LLC, whereby Aspire Capital has committed over the next 2 years to purchase up to $10 million of ZBB Energy common stock based on prevailing market prices over a period preceding each sale.
Promptly after the approval of the transaction by the NYSE MKT and certain other customary conditions, Aspire Capital has agreed to make an initial purchase of $1 million of common stock at a purchase price of $0.34 per share, the closing sale price of the common stock on March 12.
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