Little Bear Investments LLC Participates in Metretek Technologies, Inc. $10.9m Private Placement
Friday May 6, 2004 1:30 pm ET
NEW YORK, May 6 — Little Bear Investments LLC (“Little Bear”) announced today that it has participated in a $10.9 million private placement to purchase common stock and warrants of Metretek Technologies, Inc. (“MTEK”). Roth Capital Partners LLC (“Roth”), a registered NASD broker-dealer, acted as the placement agent in the private placement.
“We’re excited that we had the opportunity to invest with Roth in a very unique transaction”, commented Mr. Mann, general counsel to Little Bear. ”Metretek is an exciting business, and with the capital raised in this private placement, we feel they have the tools they need to participate in the growth opportunities that lie ahead of them.”
About Metretek Technologies, Inc.
Metretek Technologies, Inc. through its subsidiaries — Southern Flow Companies, Inc.; PowerSecure, Inc.; and Metretek, Incorporated (Metretek Florida) — is a diversified provider of energy measurement products, services and data management systems to industrial and commercial users and suppliers of natural gas and electricity.
Information on MTEK is available on the company’s Web site at www.metretek.com.
About Little Bear
Little Bear Investments, located in the heart of Midtown Manhattan, is a merchant bank that focuses on investing in both public and private companies. Our broad range of investment experience includes: tender offers, private placements, PIPE’s, reverse mergers and bankruptcy auctions. Little Bear also offers financial, operational and strategic advisory services. Working with companies large and small, we bring the same disciplined approach to our clients as we do to businesses in which we have deployed our own capital.
If you have any questions regarding this press release, please contact Jeffrey Mann at JMann@LittleBear.us or at 212-946-2736.