This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Acorn Energy, Inc. Prices Underwritten Public Offering Of Common Stock

WILMINGTON, Del., Oct. 11, 2013 /PRNewswire/ -- Acorn Energy, Inc. (NASDAQ: ACFN) today announced the pricing of a $10,000,000 underwritten public offering of 3,508,771 shares of its common stock, at a price of $2.85 per share.  The Company has also granted to the underwriters a 45-day option to acquire an additional 526,316 shares to cover overallotments, if any, in connection with the offering.  After the underwriting discount and estimated offering expenses payable by the Company, the Company expects to receive net proceeds of approximately $9,018,000 assuming no exercise of the overallotment option.  The offering is expected to close on October 17, 2013, subject to customary closing conditions.  Maxim Group LLC is acting as the Sole Book Running Manager and lead managing underwriter for the offering.  Chardan Capital Markets and National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (OTCBB: NHLD) are acting as Co-Managers for the offering.

Acorn intends to use the net proceeds from the offering to provide working capital for the development of its US  Seismic Systems, Inc. subsidiary and for other general corporate purposes. The shares described above are being offered by Acorn Energy, Inc. pursuant to a shelf  registration statement on Form S-3, including a base prospectus, and a preliminary prospectus supplement filed with the Securities and Exchange Commission ("SEC") and available on the SEC's website at

Before you invest in this public offering, you should read the base prospectus in that registration statement and the  related prospectus supplement and other documents that the Company has filed or will file with the SEC for more complete information about the issuer and the public offering. You may get these documents for free by visiting EDGAR on the SEC website at Alternatively, you may obtain a preliminary prospectus supplement and accompanying prospectus as indicated below.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of 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.  Copies of the prospectus supplement and the related base prospectus relating to this offering may be obtained from Maxim Group LLC 405 Lexington Avenue, New York, NY 10174, (800) 724-0761.

About Acorn Energy, Inc.

Acorn Energy, Inc. is a holding company whose four portfolio companies help their customers achieve greater productivity, reliability, security, and efficiency - factors which can lead to greater profitability.  GridSense provides monitoring for all critical points along the electricity delivery system. OmniMetrix remotely monitors emergency back-up power generation systems to increase their reliability. US Seismic supplies fiber optic sensing solutions to increase oil/gas production and lower costs. DSIT provides security solutions from underwater threats to naval and marine based energy assets.  For more information visit:

Safe Harbor Statement

This press release includes forward-looking statements, which are subject to risks and uncertainties. There is no assurance that the closing of the offering contemplated in this release shall occur. There is no assurance that Acorn Energy, Inc. or its operating companies will continue to grow their respective businesses, or that any of them will meet the expectations or execute the initiatives described or referred to above. A complete discussion of the risks and uncertainties which may affect Acorn Energy's business generally and the businesses of its subsidiaries is included under "Risk Factors" in the Company's prospectus supplement filed in connection with the offering as filed by the Company with the Securities and Exchange Commission.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,131.86 +47.37 0.28%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,838.6430 +8.1730 0.17%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs