New Jersey-based Comverge, Inc. (Nasdaq: COMV), a leading provider of smart grid, demand management and energy efficiency solutions, has filed a shelf registration statement with the Securities and Exchange Commission (SEC) to sell up to $100 million of common stock, preferred stock, debt securities, warrants, units and other securities in one or more offerings.
Additionally, the registration statement includes up to $50 million of common stock reserved for selling stockholders. Comverge will not receive any proceeds from the sale of shares by selling stockholders.
Comverge said in a release it does not currently have plans to conduct an offering of securities, but that the registration is intended to give the company greater flexibility to take advantage of favorable market conditions as they may arise.
Comverge is not required to offer or sell the securities in the future under the shelf registration statement.
Comverge, with over 3,000 megawatts of clean energy capacity under management, is a 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.
In June, Comverge announced the integration of its web-based demand management platform with advanced metering infrastructure designed by Itron (Nasdaq: ITRI).
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