Energous Corporation Files Prospectus Supplement for $80 Million ATM Offering

Energous Corporation (NASDAQ:WATT) recently disclosed in an 8-K filing with the Securities and Exchange Commission that on February 13, 2025, the company submitted a prospectus supplement for an additional $80.0 million of common stock issuance under its existing At The Market Offering Agreement with H.C. Wainwright & Co., LLC.

The Shares, which are part of the company’s common stock, will be offered and sold following the rules defined in the Securities Act of 1933. Energous Corporation will utilize its Registration Statement on Form S-3 (File No. 333-283819), declared effective by the Commission on February 12, 2025, alongside a prospectus supplement dated February 13, 2025, and filed with the Commission as per Rule 424(b) under the Securities Act for this offering.

The Sales Agreement permits the sale of Shares through various methods defined by the law as “at-the-market offering,” including selling directly on or through the Nasdaq Capital Market or any other US trading market, private transactions at current market prices, or any other legal method. The company is not obligated to sell any Shares under this agreement, and the Agent will make efforts to sell the Shares as per the Company’s instructions.

Proceeds from the offering are planned to be allocated for general corporate purposes, including administrative expenses, research and development, potential acquisitions, regulatory activities, and business development initiatives.

The Sales Agreement entails standard representations and commitments by Energous Corporation, with the Agent entitled to a 3% cash commission on the gross proceeds from Share sales under the agreement. The offering will end either upon selling Shares with a total sales price of $80.0 million or upon agreement termination by the Company or the Agent.

This report clarifies that the offering of Shares is not an offer to sell or a solicitation to buy, nor will there be any sale of the Company’s common stock in any unlawful state. The detailed terms of the Sales Agreement are available in the Exhibit 10.1 of the filed 8-K report.

The legal opinion and consent of Perkins Coie LLP concerning the issuance and sale of the Shares have also been included as Exhibit 5.1 to the 8-K filing. The company has appropriately filed all necessary financial statements and exhibits in compliance with Item 9.01 of the SEC regulations.

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

About Energous

Energous Corporation provides wireless charging system solutions in the United States. The company develops WattUp wireless power networks technology that consists of semiconductor chipsets; software controls; hardware designs; and antennas that enables radio frequency-based charging for Internet of Things devices.