Clean Energy Fuels Announces Amendment and Exercise of Series I Common Stock Warrant
November 10 2010 - 4:40PM
Business Wire
Clean Energy (Nasdaq: CLNE) today announced that it has entered
into an amendment to a Series I warrant to purchase 1,183,712
shares of its common stock. Such warrant was originally issued in
connection with Clean Energy’s registered direct securities
offering, which closed on November 3, 2008. Pursuant to the warrant
amendment, the expiration date of the warrant was changed to
November 10, 2010 and, in consideration of the modification to the
expiration date, Clean Energy agreed to pay the warrant holder
approximately $3.2 million. Clean Energy has received notice that
the warrant will be exercised in full and expects to issue
1,183,712 shares of common stock, for an aggregate exercise price
of approximately $15.0 million, to the warrant holder.
About Clean Energy Fuels
Clean Energy is the largest provider of natural gas fuel for
transportation in North America and a global leader in the
expanding natural gas vehicle market. It has operations in CNG and
LNG vehicle fueling, construction and operation of CNG and LNG
fueling stations, biomethane production, vehicle conversion and
compressor technology.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of federal securities laws. Clean Energy cautions you
that any statements contained in this press release that are not
strictly historical statements constitute forward-looking
statements. These forward-looking statements are neither promises
nor guarantees and involve risks and uncertainties that could cause
actual results to differ materially from such forward-looking
statements. Factors that could cause actual events to differ
materially from those predicted in such forward-looking statements
include market conditions and potential fluctuations in the price
of Clean Energy’s common stock. Additional factors that could cause
actual events to differ from those predicted in such
forward-looking statements are identified in the preliminary
prospectus supplement and Clean Energy’s other filings with the SEC
that are incorporated by reference into the preliminary prospectus
supplement, including its Annual Report on Form 10-K for the fiscal
year ended December 31, 2009 and its Quarterly Report on Form 10-Q
for the fiscal quarter ended September 30, 2010, each of which is
filed with the SEC (copies of which may be obtained at the SEC’s
website at: http://www.sec.gov). Readers should not place undue
reliance on any such forward-looking statements, which speak only
as of the date they are made. Clean Energy disclaims any obligation
to publicly update or revise any such statements to reflect any
change in its expectations, or in events, conditions or
circumstances on which any such statements may be based, or that
may affect the likelihood that actual results will differ from
those set forth in the forward-looking statements.
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