We are pleased to announce that on January 9, 2018, Fluidic Energy closed an equity investment from affiliates of NantWorks. Armory Securities served as the exclusive financial advisor to Fluidic for the transaction.
Fluidic Energy (“Fluidic”) manufactures an advanced rechargeable Zinc-Air battery technology that provides a cost-effective, reliable, safe and clean alternative to diesel generators and lead-acid batteries for microgrids, telecommunications and other applications. The company has over 120,000 batteries operating in 3,000+ systems in 10 countries. Fluidic engaged Armory to raise financing to address short-term liquidity needs, pay off certain indebtedness, and provide growth capital.
Armory secured both a short-term bridge financing and a preferred equity investment from NantWorks (“Nant”), the investment vehicle of billionaire Dr. Patrick Soon-Shiong. The transaction provided Fluidic with the short- and long-term financing that it required while negotiating a suitable capital structure for the company’s debt and equity holders. The transaction closed less than two months after Armory’s engagement.
“We are very excited to have Nant as an investor and partner,” said Chuck Ensign, Fluidic’s CEO. “Armory was instrumental in helping us find the right investor, determine an appropriate structure and close the transaction successfully.”
Learn more about NantEnergy (formerly Fluidic Energy) at NantEnergy.com.