Los Angeles-Rentech Inc. said Aug. 20 that it has signed a definitive subscription agreement to sell to an institutional investor 8,571,428 shares of its common stock at a price of $1.75 per share, for gross proceeds of approximately $15.0 million. The net proceeds of the financing will be used for general corporate purposes, including funding a portion of the development costs related to Rentech’s recently announced renewable synthetic fuels and power project in Rialto, California.
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