Vulcan Infrastructure and Power closes USD 39.4 million private placement at USD 1.71 a share

PUBT · 1d ago
Vulcan Infrastructure and Power closes USD 39.4 million private placement at USD 1.71 a share
  • Vulcan Infrastructure and Power closed a $39.4 million strategic investment via an unregistered sale of Class A common stock.
  • Issued 17,146,190 shares at USD 1.71 each to affiliates of Machine Investment Group, Atlas Holdings, Conversant Capital, insiders.
  • Also issued a USD 10 million senior secured convertible promissory note to a Machine affiliate; 10% PIK interest; 3-year maturity.
  • Convertible note set at USD 2.14 per share conversion price; includes a 3-year warrant for 1,754,386 shares at USD 1.71.
  • Net proceeds earmarked to redeem about USD 33.1 million of 8.50% Senior Notes due October 2026; remainder for development work.


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