ZBB Energy raises additional capital

ZBB Energy Corp., a developer of intelligent, renewable energy power platforms, today announced that it has entered into a securities purchase agreement for a registered direct offering with several investors to sell 2.8 million shares of common stock for $2.3 million.
The shares will be sold for a per share purchase price of 82 cents.
The Menomonee Falls-based company also entered into stock purchase agreements with certain members of its board of directors, officers and advisors providing for the sale of a total of $247,500 of shares of common stock for a price per share equal to 92 cents, which was the closing price of the company’s common stock on June 13, 2011.
Eric Apfelbach, chief executive officer of ZBB Energy Corp., said, "This financing not only strengthens our balance sheet, but also continues to demonstrate our ability to attract fundamental investors and raise money with attractive terms. The broad participation from directors and management is a reflection of the belief in the mission."
The transactions are expected to close on or about June 17, subject to satisfaction of customary closing conditions.

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