Clean Energy Technologies, Inc. (Nasdaq CETY) (the “Company”),
offering recyclable energy solutions, clean energy fuels, and
alternative electric power for small and mid-sized projects in
North America, Europe, and Asia announced today the closing of its
public offering of 975,000 shares of common stock at a price of
$4.00 per share for a total gross proceeds of $3.9 million before
deducting underwriting discounts and commissions and offering
expense (the “Offering”).
In addition, the Company has granted the
underwriters an option, exercisable within 45 days from the date of
the underwriting agreement, to purchase up to an additional 146,250
shares at the public offering price, less underwriting
discounts and commissions. The Offering was closed on March
27, 2023 and was conducted on a firm commitment basis. The shares
began trading on March 23, 2023 on NASDAQ Capital Market under the
symbol “CETY”.
Craft Capital Management LLC, R.F. Lafferty
& Co., Inc. acted as representatives of the underwriters for
the Offering and Ninth Eternity Capital HK Limited acted as an
underwriter for the Offering. The Newman Law Firm, PLLC acted as
counsel to the Company, and Bevilacqua PLLC acted as counsel to
Craft Capital Management LLC.
A registration statement on Form S-1 (File No.
333-266078) relating to the securities being sold in this Offering
was declared effective by the Securities and Exchange Commission
(the “SEC”) on March 22, 2023. Copies of the registration statement
can be accessed through the SEC’s website at www.sec.gov. This
Offering is being made only by means of a written prospectus,
forming a part of the effective registration statement. Copies of
the final prospectus relating to the underwritten public offering
can be obtained, when available, from: Craft Capital Management
LLC, Attention: Richard Rizzuto, 377 Oak Street, Lower Concourse,
Garden City, NY 11530 or via email rrizzuto@craftcm.com; R.F.
Lafferty & Co., Inc., Attention: John Heidenreich, 40 Wall
Street, 29th Floor, New York, NY 10005, or via email at
JHeidenreich@rflafferty.com; The address of Ninth Eternity Capital
HK Limited is Suite 909, 9/F, 794-802 Nathan Road, Prince Edward,
Hong Kong. Ninth Eternity Capital HK Limited, a broker-dealer
registered with the Hong Kong Securities and Futures Commission, is
not registered with the SEC and will not make any offers or sales
of the shares of common stock of the Company within the United
States.
Kam Mahdi, CETY’s CEO said, “Uplisting our
shares to Nasdaq is a great way to start the spring! We have been
working diligently toward this goal, while continually executing on
our plans to become a leader in the zero-emission world. We believe
trading on Nasdaq will increase CETY’s visibility and awareness in
the market. The Nasdaq Capital Market is recognized as having the
highest listing standards of any exchange in the world. The Nasdaq
Capital Market consists of stocks that meet Nasdaq's strictest
financial and liquidity requirements and corporate governance
standards. CETY is honored to be among this class of companies. I
want to thank our stakeholders, partners, customers and employees,
as we work expeditiously in execution of our growth strategy by
expanding our clean energy solutions and technologies."
Before you invest, you should read the final
prospectus and other documents the Company has filed or will file
with the SEC for more complete information about the Company and
the offering. This press release shall not constitute an offer
to sell or the solicitation of an offer to buy the securities
described herein, nor shall there be any sale of these securities
in any state or jurisdiction in which such offer, solicitation, or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
About Clean Energy Technologies, Inc.
(CETY)
Headquartered in Costa Mesa, California,
Clean Energy Technologies (CETY) plans to become a leader in the
zero-emission revolution by offering recyclable energy solutions,
clean energy fuels and alternative electric power for small and
mid-sized projects in North America, Europe, and Asia. We deliver
power from heat and biomass with zero emission and low cost. The
Company's principal products are Waste Heat Recovery Solutions
using our patented Clean Cycle TM generator to create electricity.
Waste to Energy Solutions converting waste products created in
manufacturing, agriculture, wastewater treatment plants and other
industries to electricity and BioChar. Engineering, Consulting and
Project Management Solutions providing expertise and experience in
developing clean energy projects for municipal and industrial
customers and Engineering, Procurement and Construction (EPC)
companies. Our NG trading operations in China is to source and
supply Natural Gas to industries and municipalities located in
China.
For more information, visit www.cetyinc.com or
www.heatrecoverysolutions.com .
Safe Harbor Statement
This press release contains statements that may
constitute “forward-looking statements” as defined by the Private
Securities Litigation Reform Act of 1995. In addition, from time to
time, we or our representatives may make forward-looking statements
orally or in writing. We base these forward-looking statements on
our expectations and projections about future events, which we
derive from the information currently available to us. Such
forward-looking statements relate to future events or our future
performance, including: our financial performance and projections;
our growth in revenue and earnings; and our business prospects and
opportunities. You can identify forward-looking statements by those
statements that are not historical in nature, particularly those
that use terminology such as “may,” “should,” “expects,”
“anticipates,” “contemplates,” “estimates,” “believes,” “plans,”
“projected,” “predicts,” “potential,” or “hopes” or the negative of
these or similar terms. In evaluating these forward-looking
statements, you should consider various factors, including: our
ability to change the direction of the Company; our ability to keep
pace with new technology and changing market needs; and the
competitive environment of our business. These and other factors
may cause our actual results to differ materially from any
forward-looking statement. Forward-looking statements involve
inherent risks and uncertainties. The forward-looking events
discussed in this press release and other statements made from time
to time by us or our representatives, may not occur, and actual
events and results may differ materially and are subject to risks,
uncertainties, and assumptions about us. Further information
regarding these and other risks is included in the Company’s
filings with the SEC. All information provided in this press
release is as of the date of this press release. We are not
obligated to publicly update or revise any forward-looking
statement, except as required under applicable law, whether as a
result of uncertainties and assumptions, the forward-looking events
discussed in this press release and other statements made from time
to time by us or our representatives might not occur.
SOURCE Clean Energy Technologies, Inc.
Investor Relations Contact : ir@cetyinc.com
Contact: Clean Energy Technologies, Inc. 2990
Redhill Avenue Costa Mesa, CA 92626 949.273.4990 main 949.273.4990
fax www.cetyinc.com
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