GridPoint Inc. Raises $16 Million for Energy-Management Systems

GridPoint Inc., a closely held provider of energy-management technology, raised about $16 million from existing investors.

The debt offer includes warrants allowing backers to purchase eight common shares for every $1 invested, according to a filing today with the U.S. Securities and Exchange Commission.

The round closed April 25 and all funds came from its current backers, Sarah Trainor, a spokeswoman for Arlington, Virginia-based GridPoint, said in a phone interview.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Will Wade, Carlos Caminada

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