BOSTON, Aug. 3, 2009 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of clean and intelligent energy solutions, announced today that it has filed with the Securities and Exchange Commission (SEC) a preliminary prospectus supplement to its effective shelf registration statement relating to a proposed offering of 3,750,000 shares of its common stock. It is expected that 3,000,000 of the shares will be offered by EnerNOC and 750,000 shares will be offered by certain selling stockholders. EnerNOC and the selling stockholders expect to grant the underwriters an over-allotment option to purchase up to 562,500 additional shares.
The Company plans to use the net proceeds for working capital and general corporate purposes, including to fund the expansion of its business in new and existing domestic and international regions, expand its customer base, strengthen its working capital position so that it is better positioned to post financial assurances, fund cash consideration for future acquisitions of companies or technologies that complement its business, and finance research and development. The Company has no current understandings, commitments or agreements with respect to any acquisitions. The Company will not receive any proceeds from the sale of shares by the selling stockholders.
J.P. Morgan Securities Inc. and Morgan Stanley & Co. Incorporated are serving as joint book-running managers of the offering and Canaccord Adams Inc. and Robert W. Baird & Co. are serving as co-managers. The offering will be made only by means of the preliminary prospectus supplement and an accompanying prospectus, copies of which may be obtained from J.P. Morgan Securities Inc., 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, telephone: (718) 242-8002, or from Morgan Stanley & Co. Incorporated, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone: (866) 718-1649, or by e-mailing prospectus@morganstanley.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About EnerNOC:
EnerNOC, Inc. is a leading provider of clean and intelligent energy solutions, which include demand response services, energy efficiency, or monitoring-based commissioning, services, energy procurement services and emissions tracking and trading services. These solutions help optimize the balance of electric supply and demand, provide cost-efficient alternatives to traditional power generation, transmission and distribution resources, and drive significant cost-savings for our customers. The Company uses its Network Operations Center, or NOC, and PowerTrak enterprise software platform to remotely manage and reduce electricity consumption across a growing network of commercial, institutional, and industrial customer sites, making demand response capacity available to grid operators and utilities on demand while helping end-users of electricity achieve energy savings, environmental benefits and improved financial results.
The EnerNOC, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5804
Safe Harbor Statement
This press release contains "forward-looking statements," including, but not limited to, statements relating to the anticipated offering and the anticipated use of the proceeds from the offering. Forward-looking statements are based on management's expectations and are subject to certain factors, risks and uncertainties that may cause actual results, outcome of events, timing and performance to differ materially from those expressed or implied by such statements. These risks and uncertainties include, but are not limited to, those detailed in the Company's public filings with the SEC. The information contained in this press release is believed to be current as of the date of this release. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in the Company's expectations, except as required by law.