Summer Energy Holdings, Inc. announced a financing transaction
January 28, 2019
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Summer Energy Holdings, Inc. (OTCPK:SUME) announced that it has entered into a securities purchase agreement for a private placement of 3,533,333 shares at a proceeds of $1.50 per share for gross proceeds of $5,300,000 on January 29, 2019. The company will issue securities pursuant to exemption provided under Regulation D.
On the same date, the company announced that it has issued 1,000,000 shares at a price of $1.50 per share for proceeds of $1,500,000 in the first tranche of the transaction.
Summer Energy Holdings, Inc. operates through its wholly owned subsidiaries Summer Energy, LLC (Summer LLC), Summer Energy Midwest, LLC (Summer Midwest), and Summer Energy Northeast, LLC. Summer LLC is a retail electric provider in the state of Texas under a license with the Public Utility Commission of Texas (PUCT). Summer LLC procures wholesale energy and resells to commercial and residential customers. The Company provides electricity to residential and all size commercial customers in the restructured retail energy market. Summer Northeast is engaged in serving electric load to both residential and commercial customers in the Northeastern United States and holds licenses in Massachusetts and New Hampshire. Summer Midwest provide billing, collections, back-office service, including supply and scheduling services, customer service and accounting services.
SUMMER ENERGY HOLDINGS, INC. 
