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BP Fly Corporation Message Board

  • scoutergame1 scoutergame1 Jul 6, 2007 2:24 PM Flag

    pps increase

    Does anyone have a good explanation for this rise in price? Yes, BCON has great potential, good story, etc. But why now? Doesn't it seem a little suspicious that this is happening at just the right time? They needed to get delisting threat off their backs and clear the way for possible new financing. No one would like to see this fly more than I, but I just don't find a good explanation for why now. Please, no silly name calling, just good reasoning.

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    • Im gonna say your an idiot...no just kidding...institutions probably were waiting for the delist cloud to lift..then since it is very inexpensive for energy and nasdaq....and energy is hot right now and they have prommising tech and future earnings potential....I think the grid is gonna be the new oil...that and watch all the green stocks...this will go to the teens in a few years for certain and potential buyout by the big boys who may be able to get the tech online quicker....in the mean time see profit taking dips here and there...perhaps soon..

      • 1 Reply to i12flyskyhigh
      • i12flyskyhigh, if you were an investor with warrent to buy 5.9 million more BCON @ $1.33 In August, would you buy if the PPS was only $1.33? NO you would buy it if BCON's PPS is trading at double or higher let say $5.50 the would be instant PROFIT.
        -----------------------------------------------------------


        The New "Investors" of 11,814,687 units could exercise there warrent to buy 5.9 million more BCON @ $1.33 In August, But if you're the "investor/s" you would want BCON's PPS to be at around double that or better so they could make a quick 100% or more in profit.

    • I think this may be just one reason.

      The New "Investors" of 11,814,687 units could exercise there warrent to buy 5.9 million more BCON @ $1.33 In August, But if you're the "investor/s" you would want BCON's PPS to be at around double that or better so they could make a quick 100% or more in profit.

      ----------------------------------------------------- -------
      Form 8-K for BEACON POWER CORP

      13-Feb-2007

      Entry into a Material Definitive Agreement, Financial Statements and Exhibits



      Item 1.01 Entry Into a Material Definitive Agreement.
      On February 12, 2007, Beacon Power Corporation (the "Company") entered into a Placement Agency Agreement with Merriman Curhan Ford & Co., as the sole placement agent, relating to the offering, issuance and sale to investors (the "Investors") of 11,814,687 units, each of which consists of one share of the Company's common stock, par value $0.01 per share (the "Common Stock"), and a warrant (the "Warrants") to purchase 0.5 shares of Common Stock at an exercise price of $1.33 per share. The Warrants have a term of five years and are first exercisable six months and one day after their issuance. The warrants are immediately separable from the units.

      The Company has received commitments to purchase 11,814,687 units from investors at a purchase price of $0.90 per unit (a discount to the closing price of the common stock on February 9, 2007, which was $1.21). The net offering proceeds to the Company are expected to be approximately $9.8 million after deducting placement agency fees and estimated offering expenses. A copy of the Placement Agency Agreement is attached as Exhibit 1.1 hereto and is incorporated herein by reference. A copy of the form of Investor Purchase Agreement entered into between the Company and each investor is attached as Exhibit 1.2 hereto and is incorporated herein by reference.

      The units will be issued pursuant to a prospectus supplement to be filed with the Securities and Exchange Commission in connection with a shelf takedown from the Company's registration statement on Form S-3 (File no. 333-137071), which became effective on December 14, 2006. A copy of the opinion of Edwards Angell Palmer & Dodge LLP relating to the legality of the issuance and sale of the units in the offering is attached as Exhibit 5.1 hereto.

      On February 12, 2007, the Company issued a press release announcing the offering. A copy of the press release is attached hereto as Exhibit 99.1, and is incorporated herein by reference.





      Item 9.01 Financial Statements and Exhibits.
      (c) Exhibits.


      Exhibit
      Exhibit Description Number

      Placement Agency Agreement dated as of February 12, 1.1
      2007 by and between Beacon Power Corporation and
      Merriman Curhan Ford & Co.

      Form of Investor Purchase Agreement dated February 1.2
      12, 2007

      Opinion of Edwards Angell Palmer & Dodge LLP 5.1

      Consent of Edwards Angell Palmer & Dodge LLP 23.1
      (included in its opinion filed as Exhibit 5.1 hereto)

      Press Release dated February 12, 2007 99.1

      • 1 Reply to smythwrd
      • I think this may be just one reason.

        The New "Investors" of 11,814,687 units could exercise there warrent to buy 5.9 million more BCON @ $1.33 In August, But if you're the "investor/s" you would want BCON's PPS to be at around double that or better so they could make a quick 100% or more in profit.

        ----------------------------------------------------- -------
        Form 8-K for BEACON POWER CORP

        13-Feb-2007

        Entry into a Material Definitive Agreement, Financial Statements and Exhibits



        Item 1.01 Entry Into a Material Definitive Agreement.
        On February 12, 2007, Beacon Power Corporation (the "Company") entered into a Placement Agency Agreement with Merriman Curhan Ford & Co., as the sole placement agent, relating to the offering, issuance and sale to investors (the "Investors") of 11,814,687 units, each of which consists of one share of the Company's common stock, par value $0.01 per share (the "Common Stock"), and a warrant (the "Warrants") to purchase 0.5 shares of Common Stock at an exercise price of $1.33 per share. The Warrants have a term of five years and are first exercisable six months and one day after their issuance. The warrants are immediately separable from the units.

        The Company has received commitments to purchase 11,814,687 units from investors at a purchase price of $0.90 per unit (a discount to the closing price of the common stock on February 9, 2007, which was $1.21). The net offering proceeds to the Company are expected to be approximately $9.8 million after deducting placement agency fees and estimated offering expenses. A copy of the Placement Agency Agreement is attached as Exhibit 1.1 hereto and is incorporated herein by reference. A copy of the form of Investor Purchase Agreement entered into between the Company and each investor is attached as Exhibit 1.2 hereto and is incorporated herein by reference.

        The units will be issued pursuant to a prospectus supplement to be filed with the Securities and Exchange Commission in connection with a shelf takedown from the Company's registration statement on Form S-3 (File no. 333-137071), which became effective on December 14, 2006. A copy of the opinion of Edwards Angell Palmer & Dodge LLP relating to the legality of the issuance and sale of the units in the offering is attached as Exhibit 5.1 hereto.

        On February 12, 2007, the Company issued a press release announcing the offering. A copy of the press release is attached hereto as Exhibit 99.1, and is incorporated herein by reference.





        Item 9.01 Financial Statements and Exhibits.
        (c) Exhibits.


        Exhibit
        Exhibit Description Number

        Placement Agency Agreement dated as of February 12, 1.1
        2007 by and between Beacon Power Corporation and
        Merriman Curhan Ford & Co.

        Form of Investor Purchase Agreement dated February 1.2
        12, 2007

        Opinion of Edwards Angell Palmer & Dodge LLP 5.1

        Consent of Edwards Angell Palmer & Dodge LLP 23.1
        (included in its opinion filed as Exhibit 5.1 hereto)

        Press Release dated February 12, 2007 99.1

        Sentiment : Strong Buy

 
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