WORCESTER, MA--(Marketwire - 04/07/11) - World Energy Solutions, Inc. (NASDAQ:XWES - News), a leading energy management services firm, today announced it has entered into agreements with several institutional investors to issue approximately 1.5 million shares of common stock at $3.60 per share, yielding gross proceeds of more than $5.5 million. The Company anticipates using the new capital for strategic initiatives, including investments and acquisitions in the energy management space."Accessing capital markets to drive growth and advance our energy industry leadership has always been central to our business strategy," said Richard Domaleski, CEO of World Energy Solutions. "Building on our strong 2010 financial performance and growing investor interest, we saw this as the right time to capitalize on our public currency and pursue our market opportunities."The offering is expected to close on or about April 11, 2011, subject to satisfaction of customary closing conditions. A shelf registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. A prospectus supplement related to the offering will be filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy, and these securities cannot be sold in any state in which this offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Any offer will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.About World Energy Solutions, Inc.
World Energy Solutions, Inc. (NASDAQ:XWES - News) is an energy management services firm that brings together the passion, processes and technologies to take the complexity out of energy management and turn it into bottom-line impact for the businesses, institutions and governments we serve. To date, the Company has transacted more than $20 billion in energy, demand response and environmental commodities on behalf of its customers, creating more than $1 billion in value for them. World Energy is also a leader in the global carbon market, where its World Green Exchange® supports the ground-breaking Regional Greenhouse Gas Initiative's (RGGI) cap and trade program for CO2 emissions. For more information, please visit www.worldenergy.com.This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to the following: our revenue and backlog are dependent on actual future energy purchases pursuant to completed procurements; the demand for our services is affected by changes in regulated prices or cyclicality or volatility in competitive market prices for energy; and there are factors outside our control that affect transaction volume in the electricity market. Additional risk factors are identified in our Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission.
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- World Energy Solutions
- World Energy Solutions, Inc.