Acorn Energy Raises $4.5 Million In Private Placement of Unregistered Shares of Common Stock and Warrants

WILMINGTON, Del., Oct. 31, 2014 (PR NEWSWIRE) –Acorn Energy, Inc. (NASDAQ: ACFN) (the “Company” or “Acorn”) today announced that it has entered into definitive agreements with accredited investors in connection with a private placement of unregistered shares common stock and warrants to purchase common stock. Upon the closing of this financing, Acorn will receive gross proceeds of approximately $4.5 million resulting from the issuance and sale of 4,285,714 unregistered shares of common stock at a price per share of $1.05 and warrants to purchase up to 2,142,857 shares of common stock at an exercise price of $1.30 per share. The warrants are non-exercisable for six months after the closing of the financing and have a term of 5.5 years.

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