Comverge Announces Closing of Follow-On Offering
East Hanover, NJ - December 13, 2007: Comverge, Inc. (Nasdaq: COMV), a leading clean capacity provider through demand response and energy efficiency, announced today the closing of its follow-on offering of 4,600,000 shares of common stock at a price of $29 per share, including 600,000 shares sold pursuant to the underwriters' exercise of their option to purchase additional shares to cover over-allotments. The offering included 920,000 primary shares offered by Comverge and 3,680,000 secondary shares offered by certain selling stockholders. The net proceeds to Comverge are approximately $24.3 million. Comverge did not receive any proceeds from the sale of shares by the selling stockholders.
Citi and Goldman, Sachs & Co. acted as joint book-running managers of the offering. Cowen and Company, LLC and RBC Capital Markets Corporation acted as co-lead managers. Stephens Inc. and Pacific Growth Equities, LLC acted as co- managers. A copy of the final prospectus relating to the offering may be obtained from Citi, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, N.Y. 11220, (718) 765-6732, fax (718) 765-6734 and Goldman, Sachs & Co., Attn: Prospectus Dept., 85 Broad St., New York, N.Y. 10004, fax (212) 902-9316 or email at email@example.com.
A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, 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.
Comverge is a leading provider of clean energy solutions that improve grid reliability and supply electric capacity on a more cost effective basis than conventional alternatives by reducing base load and peak load energy consumption.