Message #21 From:
Stock News Bot Date: June 11, 2008 09:19:41 AM
SUF Stock: SulphCo Completes Equity Financing for Gross Proceeds of Approximately $21.8 Million
HOUSTON, June 11 /PRNewswire-FirstCall/ -- SulphCo, Inc. (the 'Company' or
'SulphCo') (Amex: SUF stock) announced the completion, on June 10, 2008, of the sale
of 6,818,750 shares of the Company's common stock at a price of $3.20 per
share pursuant to the previously announced Securities Purchase Agreement dated
May 27, 2008 between the Company and a group of purchasers, and the receipt of
aggregate proceeds to the Company of $21,820,000 before transaction costs.
The shares were sold pursuant to a shelf registration statement declared
effective by the Securities and Exchange Commission on September 4, 2007.
Taken together with the proceeds from the recent warrant exercise that
resulted in gross proceeds of approximately $5.2 million, the Company has
raised gross proceeds totaling approximately $27.0 million.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities. There shall not be any sale of
these securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction.
About SulphCo, Inc.
The Company has developed a patented safe and economic process employing
ultrasound technology to desulfurize and hydrogenate crude oil and other oil
related products. The Company's technology is designed to upgrade sour heavy
crude oils into sweeter, lighter crude oils, producing more gallons of usable
oil per barrel.
From time to time, the Company may issue forward-looking statements, which
involve risks and uncertainties. This statement may contain forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
actual results could differ and any forward-looking statements should be
considered accordingly.
Contact: Adam Mazur Rubenstein PR 212-843-8073 amazur@rubensteinpr.com
Tim Clemensen Rubenstein IR 212-843-9337 tclemensen@rubensteinir.com
