AUBURN HILLS, Mich. – (Business Wire) Octillion Corp. (OTCBB: OCTL) (“Octillion” or the “Company”), an alternative energy technology incubator, today announced that it has completed a private placement of its securities consisting of shares and warrants to institutional and accredited investors for aggregate gross proceeds of $3,675,000.
In agreement with Westminster Securities Corporation, Palladium Capital Advisors, LLC, acted as co-placement agent.
The Company intends to use the net proceeds from this financing for general corporate purposes. To the extent that the warrants are exercised, Octillion could receive an additional maximum amount of $4,593,750.
“We are very pleased to work with such effective investment banking firms,” states Mr. Nicholas Cucinelli, President and CEO of Octillion Corp. “The additional capital provided by this financing will not only enable us to comfortably pursue our research and development initiatives for the first-of-its-kind transparent window capable of generating electricity, but will also permit us to continue to identify, evaluate and potentially acquire other strategic enabling and complementary photovoltaic technologies.”
See full press release here