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Published in Stocks and Investing on Tuesday, May 19th 2009 at 6:16 GMT, Last Modified on 2009-05-19 06:17:26 by Market Wire
VALENCIA, CA--(Marketwire - May 19, 2009) - Enable IPC Corporation (
Enable IPC shareholders will receive warrants to purchase one share of common stock for every 2 shares of common stock held as of May 8, 2009.
The warrants issued will be equally divided into four pricing tiers. The first tier will have an exercise price of $0.01 per share and will expire on July 31, 2009. The second tier will have an exercise price of $0.02 per share and will expire on October 31, 2009. The third tier will have an exercise price of $0.04 and will expire on January 31, 2010. The final tier will have an exercise price of $0.08 and will expire on April 30, 2010.
As an example, a shareholder with 50,000 shares as of May 8, 2009 will receive 25,000 warrants with the following prices and expiration dates:
Warrants to purchase 6,250 shares at $0.01, expiring on July 31, 2009 Warrants to purchase 6,250 shares at $0.02, expiring on October 31, 2009 Warrants to purchase 6,250 shares at $0.04, expiring on January 31, 2010 Warrants to purchase 6,250 shares at $0.08, expiring on April 30, 2010
In accordance with SEC rules, the common stock purchased from the exercise of the warrants will remain restricted from sale on the open market for a period of one year from the date of exercise, unless otherwise registered by the Company.
The warrant agreements will be mailed on May 20, 2009.
"The escalating exercise prices reflect our belief that the markets will reward the progress we feel the Company will make in the coming year," said Enable IPC CEO David Walker. "These new warrants are meant to provide our existing shareholders more opportunity to share in our future success."
Enable IPC's Nanowire-based Microbattery and Nanoparticle-based Ultracapacitor
Enable IPC develops leading edge technologies and brings them to market. Two breakthrough energy technologies in the Company's portfolio include a nanowire-based microbattery and a nanoparticle-based ultracapacitor. For more detailed information on these technologies, please visit the Company's website at [ www.enableipc.com ].
Enable IPC's Ultracapacitors Used in High Profile Renewable Energy Project
Enable IPC has recently completed ultracapacitor electrode shipments to IMDEA Energia in Madrid, Spain for a renewable energy demonstration project. The electrodes will be incorporated into a power conditioning unit by IMDEA and Green Power, a Spain-based renewable energy manufacturer, for a demonstration as part of the SA2VE project -- a Spanish government-sponsored program focused on new energy solutions, particularly relating to "green" power. If the project is successful, the Company could have a multi-million dollar opportunity in renewable energy.
The Company's ultracapacitor technology combines nanoparticles with common carbon sheets for a low cost, easy-to-implement process that improves the performance of ultracapacitors as clean energy storage devices. The enhanced ultracapacitors are simpler, cheaper and longer lasting than conventional devices, including some batteries, but perform just as well for many applications including renewable energy.
$600 Million Ultracapacitor Market
Enable IPC's ultracapacitor technology is aimed at a market estimated to grow to over $600 million by the year 2012. While the company has been mostly focusing on the use of ultracapacitors in renewable energy, there are also huge opportunities for this technology in consumer, other industrial and transportation applications as well. For more detailed information on ultracapacitors, please visit the corporate website at: [ http://www.enableipc.com/ultracapacitor.html ].
About Enable IPC Corporation
Enable IPC provides efficient, streamlined strategies for turning technologies into products and bringing them to market. Enable IPC's growing portfolio currently includes the exclusive rights to two break-through energy technologies: a nanoparticle-based ultracapacitor and a nanowire-based microbattery. For more information, please visit [ http://www.enableipc.com ].
Forward-Looking Statements
This release may contain forward-looking statements, such as "estimated," "could," "should" and similar terminology that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the ability to secure additional financing for the company, changing economic conditions, business conditions, and the risks inherent in the operations of a company.
