US (NM): Bright Green closes $3.5M private placement

Bright Green Corporation has closed its previously announced private placement of common stock and warrants.

The Company sold 3,684,210 shares of common stock and warrants to purchase 3,684,210 shares of common stock at a purchase price of $0.95 per share and accompanying warrant. The warrants will be immediately exercisable from the date of issuance at an initial exercise price of $0.95 per share, subject to adjustments as set forth therein, and will expire five years from the date of issuance. The gross proceeds to the Company from the private placement are expected to be approximately $3.5 million before deducting the placement agent's fees and other estimated offering expenses.

EF Hutton, a division of Benchmark Investments, LLC, acted as the exclusive placement agent for the offering. Bridgeway Capital Partners served as financial advisor to Bright Green on the offering.