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Brean Murray, Carret & Co. Completes $20.0 Million Registered Direct Offering for Rentech, Inc.
Wednesday, September 23, 2009
Rentech, Inc. (AMEX: RTK), a provider of clean energy solutions, closed a registered direct offering of approximately 11.1 million shares of common stock at $1.80 per share for gross proceeds of $20.0 million. The Company intends to use the net proceeds from the financing for general corporate purposes, including funding a portion of the development costs related to its recently announced renewable synthetic fuels and power project in Rialto, California. Brean Murray, Carret & Co. served as Exclusive Placement Agent of the offering.
Rentech, Inc., incorporated in 1981, provides clean energy solutions. The Company’s Rentech-SilvaGas biomass gasification process can convert multiple biomass feedstocks into synthesis gas (syngas) for production of renewable fuels and power. Combining the gasification process with Rentech’s unique application of proven syngas conditioning and clean-up technology and the patented Rentech Process based on Fischer-Tropsch chemistry, Rentech offers an integrated solution for production of synthetic fuels from biomass. The Rentech Process can also convert syngas from fossil resources into ultra-clean synthetic jet and diesel fuels, specialty waxes and chemicals. Final product upgrading is provided under an alliance with UOP, a Honeywell company. Rentech develops projects and licenses these technologies for application in synthetic fuels and power facilities worldwide. Rentech Energy Midwest Corporation, the Company’s wholly-owned subsidiary, manufactures and sells nitrogen fertilizer products including ammonia, urea ammonia nitrate, urea granule, and urea solution in the corn-belt region of the central United States.
Brean Murray, Carret’s Investment Banking Group is dedicated to helping our clients achieve their strategic and financial goals. For over 35 years, the Firm has specialized in providing underwriting, financing, M&A advisory and independent financial advisory services. As demonstrated by our track record, Brean Murray, Carret’s industry knowledge, commitment and experience are critical to ensure a successful transaction.
For further details regarding this transaction or Brean Murray, Carret’s Investment Banking practice, please contact Derek Woodworth, Managing Director, at 212.702.6545. |
