WASHINGTON (dpa-AFX) - Pacific Ethanol Inc. (PEIX) said that it closed its $4.6 million purchase of an additional 7% ownership interest in New PE Holdco LLC, increasing its total ownership interest to 34%. New PE Holdco LLC owns, and the company operates, the four Pacific Ethanol production facilities.
In addition, the company closed an $8.0 million private placement of 7,625,000 shares of common stock and warrants to purchase up to 4,956,250 shares of common stock.
Lazard Capital Markets LLC acted as the exclusive placement agent for Pacific Ethanol in the private placement.
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