Blue Sphere Corporation (OTCMKTS:BLSP) Files An 8-K Regulation FD Disclosure
Item 7.01
Entry into a Material Definitive Agreement
Between June 19, 2017 and June 23, 2017, Blue Sphere Corporation
(the Company) raised $4,500,000 in gross proceeds from the sale
of shares of its common stock, par value $0.001 (Common Stock),
together with warrants (collectively, the Warrants and each whole
warrant, a Warrant), with one Warrant entitling the holder
thereof to purchase one share of Common Stock at a price equal to
$3.30 per share in a self-underwritten best efforts offering to
certain investors (the Offering). The purchase price paid by the
investors was $3.125 for one share of Common Stock and one
Warrant. The Warrants are immediately exercisable and expire five
years from the date of issuance. The shares of Common Stock and
Warrants are immediately separable and will be issued separately.
The shares of Common Stock and the shares of Common Stock
underlying the Warrants were registered by the Company with the
U.S. Securities and Exchange Commission, and were offered and
sold to a final prospectus, Registration No. 333-21869, filed on
June 19, 2017 (the Prospectus), which became effective on the
same date.
As of the date of this Current Report, a total of 1,440,000
shares of Common Stock and 1,440,000 Warrants were sold in the
Offering and have been or will be issued to the Prospectus. All
shares of Common Stock and Warrants offered to the Prospectus
have been sold, and therefore the Offering has concluded.
The foregoing is only a brief description of the material terms
of the Offering and does not purport to be a complete description
of the rights and obligations of the parties thereunder, and is
qualified in its entirety by reference to the Prospectus and the
form of Warrant, which are incorporated herein by reference.
to Rule 135, this Form 8-K does not constitute an offer to sell
or the solicitation of an offer to buy securities, and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of that
jurisdiction.
Item 9.01
Financial Statements and Exhibits.
The following exhibits are furnished as part of this Current
Report on Form 8-K:
| (d) | Exhibits. | |
| 10.1 |
Form of Warrant for the Offering (incorporated by reference to Exhibit 10.61 filed together with the Companys Registration Statement on Form S-1 on June 13, 2017) |
About Blue Sphere Corporation (OTCMKTS:BLSP)
Blue Sphere Corporation is a global clean energy company. The Company develops, manages and owns waste-to-energy and other renewable energy projects. It is an international build, own and operate company (BOO) active around the world in the clean energy production and organics to energy markets. The Company is focused on approximately 10 projects related to the construction, acquisition or development of biogas facilities. It is carrying out a range of waste-to-energy projects around the world with capacities ranging between 1 to 5 megawatts. It has a waste to energy anaerobic digester of approximately 5.2 megawatts plant in Charlotte, North Carolina. The Company operates a waste to energy anaerobic digester of approximately 3.2 megawatts plant in Johnston, Rhode Island. The Company has a waste to energy anaerobic digester of approximately five megawatts plant in Ramat Chovav, Israel. As of September 30, 2015, the Company had not generated any revenues.
