Shares of Raser Technologies (NYSE:RZ) fell more than 29% to $2.70 during Tuesday trading after the company announced a $25.5 million direct registered direct offering of stock and warrants. Raser said it received commitments from institutional investors to buy a combined 8,550,339 units, each consisting of one share of common stock and one warrant to purchase 0.50 shares of its common stock. The investors agreed to a 22.5% discount to the June 29 closing price of $3.85. The warrants can be exercised at any time at a price of $4.62 per share and will expire in five years.

Contact Chip Brian

SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com.

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at www.TradeTheTrend.com/signup.html