ALPHA-EN CORPORATION (OTCMKTS:ALPE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
(d) On November 3, 2016, the Board of Directors (the “Board”) of Alpha-En Corporation (the “Company”) elected Jim Kilman to the Company’s Board as a director, to be effective beginning on November 3, 2016. Mr. Kilman’s term as a director will expire at the Company’s 2017 Annual Meeting of Stockholders. In connection with his election as a director of the Company, Mr. Kilman is expected to be appointed to the audit and compensation committees of the Board.
There are no arrangements or understandings between Mr. Kilman and any other persons to which Mr. Kilman was selected as a director.
On June 3, 2016 the Company entered into a private placement offering with Mr. Kilman and sold him 100,000 shares of common stock and 250,000 warrants for $250,000. The warrants have a five year term and an exercise price of $3.79 per share. On November 1, 2016 the Company entered into an additional private placement offering with Mr. Kilman and sold him 100,000 shares of common stock and 250,000 warrants for $100,000. The warrants have a 5 year term and an exercise price of $1.16 per share. In connection with the second private placement Mr. Kilman also received an additional 100,000 shares of common stock to certain anti-dilution protections provided to him in connection with the June 3, 2016 private placement. There have been no other transactions since the beginning of the Company’s last fiscal year, or any currently proposed transactions, in which the Company was or is to be a participant and in which Mr. Kilman, or any member of his immediate family, has a direct or indirect material interest.
Mr. Kilman will be entitled to receive the same compensation for service as directors as is provided to other non-employee directors of the Company (on a prorated basis for 2016).
Mr. Kilman is Chief Executive Officer of Scarborough, NY-based KielStrand Capital, a family office merchant bank that makes and manages investments, provides advisory services and engages in philanthropic activities. He retired earlier this year as Vice Chairman of Investment Banking at Morgan Stanley, having spent a total of 32 years in senior investment banking roles, including at Goldman Sachs, ABN AMRO and PaineWebber. Mr. Kilman also serves on the boards of directors of Berwyn, PA-based Modular Space Corporation, and Lebenthal Holdings LLC. He serves on the Board of the Hudson Valley Shakespeare Festival in Cold Spring, NY, and on the Finance and Investments Committee of the Jacob Burns Film Center in Pleasantville, NY. Mr. Kilman holds an MA and a BA in Economics from Yale University.
About ALPHA-EN CORPORATION (OTCMKTS:ALPE)
alpha-En Corporation is a development-stage company. The Company is engaged in developing a business centered in the commercial manufacturing of pure lithium metal. It focuses on including lithium products and processes derived from the Company’s technology, which include battery components, such as protected anodes and compounds of lithium, among others. It has also created a carbon neutral technology. The Company is focused on enabling battery technologies by developing and bringing to market materials produced in an environmentally sustainable manner. It has also developed a process for the production of Lithium Metal at room temperature using clean technology, which can be met without harming the environment. Its process even allows for the deposition and intercalation of lithium into custom substrates, which streamlines the manufacturing of very small batteries. The Company’s subsidiary is Clean Lithium Corporation. As of December 31, 2015, the Company had no revenues. ALPHA-EN CORPORATION (OTCMKTS:ALPE) Recent Trading Information
ALPHA-EN CORPORATION (OTCMKTS:ALPE) closed its last trading session down -0.469 at 0.551 with 250 shares trading hands.