Envision Solar International, Inc. announced that it expects to receive $1.20 million in funding.
The minimum investment accepted from any outside investor will be $5,000. As part of the transaction, Denis Beeby from Allied Beacon Partners, Inc. will serve as an agent in the transaction. The company will pay a sales commission of $96,000 as part of the transaction.
On February 8, 2013, the company announced that it will now issue 7,300,000 units in the transaction for gross proceeds of $2,190,000. The transaction is expected to close by March 15, 2013, but may be extended for up to an additional 90 days.
As of February 13, 2013, the company has raised $1,453,000 in the transaction. The tranche saw participation from 14 investors. The company paid $175,200 as sales commission to Denis Beeby from Allied Beacon Partners, Inc.
As of March 31, 2013, the company announced that it has received $1,843,700 in funding from the transaction through the issuance of 6,145,667 units. The company issued 12,291,333 shares at $0.15 per share and 6,145,667 warrants. The company paid $147,496 of capital raising fees as part of the transaction.