Clean Energy Technologies (NASDAQ:CETY) Secures Equity Line of Credit Agreement with Mast Hill Fund

Clean Energy Technologies, Inc. (NASDAQ:CETY) recently announced the signing of an equity purchase agreement with Mast Hill Fund, L.P., a Delaware limited partnership, on December 5, 2024. Under the terms of the agreement, Mast Hill Fund has committed to providing an equity line of credit of up to $5,000,000 to Clean Energy Technologies over a 24-month period.

The Equity Line of Credit Agreement allows Clean Energy Technologies the option to issue a notice to Mast Hill Fund, referred to as a “Put Notice,” specifying the number of registered and freely tradable shares of Common Stock the company desires to sell. The purchase price per share will be set at 95% of the lowest traded price of Clean Energy Technologies’ Common Stock during a specific pricing period.

As part of the agreement, Clean Energy Technologies issued 50,000 shares of Common Stock as a commitment fee to Mast Hill Fund. Additionally, the company granted a purchase warrant to Mast Hill Fund, enabling the latter to purchase 500,000 shares of Common Stock at an initial exercise price of $2.00 per share over a two-year period.

Furthermore, in connection with the Equity Line of Credit Agreement, a registration rights agreement was established. Clean Energy Technologies committed to filing an initial registration statement with the SEC within 45 days, covering all shares issuable under the Equity Line of Credit Agreement, the Warrant Shares, and the Commitment Shares. The company will make substantial efforts to have the Registration Statement declared effective by the SEC within 90 days.

These developments signify a strategic financial move for Clean Energy Technologies as it secures funding and establishes agreements that could support its future growth and development plans.

It’s important to note that the information above is in accordance with the Form 8-K filing submitted by Clean Energy Technologies to the Securities and Exchange Commission. The filing, included in this report, provides detailed descriptions of the Equity Line of Credit Agreement, the Warrant, and the Registration Rights Agreement.

Investors and stakeholders are encouraged to refer to the full text of the agreements filed alongside the Form 8-K for comprehensive information regarding the terms and conditions outlined in these transactions.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Clean Energy Technologies’s 8K filing here.

Clean Energy Technologies Company Profile

Clean Energy Technologies, Inc designs, produces, and markets clean energy products and integrated solutions that focuses on energy efficiency and renewable energy in the United States. It operates through four segments: Clean Energy HRS and CETY Europe, CETY Renewables Waste to Energy Solutions, engineering and Manufacturing Business, and CETY HK.