ClearSign Combustion Corporation Announces Underwriter's Exercise of
SEATTLE, WA -- (Marketwire) -- 05/15/12 -- ClearSign Combustion
Corporation (NASDAQ: CLIR) today announced that the underwriter, MDB
Capital Group LLC, exercised in full its over-allotment option to
purchase an additional 450,000 shares of the Company's common stock
at a price of $4.00 per share, for gross proceeds of $1.8 million.
The exercise of the over-allotment option brings the total initial
public offering size to gross proceeds of $13.8 million.
The exercise of the over-allotment option brings the total shares
issued and outstanding of the Company's common stock to 8,731,216.
In accordance with Rule 13a-12(a) of the Securities Exchange Act of
1934, the Company intends to file its Quarterly Report on Form 10-Q
for the quarter ended March 31, 2012 on or before June 11, 2012.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there be
any sale of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
Copies of the final prospectus relating to this offering may be
obtained from MDB Capital Group LLC, 401 Wilshire Boulevard, Suite
1020, Santa Monica CA 90401, (310) 526-5000.
About ClearSign Combustion Corporation
Corporation designs and develops technologies that aim to improve key
performance characteristics of combustion systems including energy
efficiency, emissions control, fuel flexibility and overall cost
effectiveness. Our Electrodynamic Combustion Control(TM) (ECC(TM))
platform technology improves control of flame shape and heat transfer
and optimizes the complex chemical reactions that occur during
bustion in order to minimize harmful emissions. For more
information about the Company, please visit
About MDB Capital Group
MDB Capital Group LLC is an investment
banking and institutional research firm focused exclusively on
companies possessing or seeking to develop market changing,
disruptive technologies and intellectual property. For more
information on MDB Capital Group, please visit www.mdb.com
Cautionary note on forward-looking statements
This press release
includes forward-looking information and statements within the
meaning of the Private Securities Litigation Reform Act of 1995 and
the provisions of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Except for historical information contained in this release,
statements in this release may constitute forward-looking statements
regarding our assumptions, projections, expectations, targets,
intentions or beliefs about future events that are based on
management's belief, as well as assumptions made by, and information
currently available to, management. While we believe that our
expectations are based upon reasonable assumptions, there can be no
assurances that our goals and strategy will be realized. Numerous
factors, including risks and uncertainties, may affect our actual
results and may cause results to differ materially from those
expressed in forward-looking statements made by us or on our behalf.
Some of these factors include the acceptance of existing and future
products, the impact of competitive products and pricing, general
business and economic conditions, and other factors to be detailed in
our periodic reports filed with the SEC. We specifically disclaim any
obligation to update or revise any forward-looking statement whether
as a result of new information, future developments or otherwise.
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