Synthesis Energy Systems, Inc. (“SES” or the “Company”) (Nasdaq: SYMX) completed a public offering of 5,951,406 shares of its common stock at $9.00 per share raising aggregate gross proceeds of $53,562,654. M.M. Dillon & Co. (“Dillon”) acted as the sole placement agent for 4,201,406 shares purchased in the offering and the remaining 1,750,000 shares were purchased directly by AEI, a public company engaged in the energy and coal business.
About Synthesis Energy Systems:
SES is an energy and technology company that deploys proprietary systems and technology to gasify low value fuels to replace high cost energy and chemical products sold to major global markets. The U-GAS® technology, which the Company licenses from the Gas Technology Institute, is designed to turn high-ash coals and waste coal products into high value synthesis gas for use in chemical applications or as a feedstock for producing transportation fuels. This technology offers the following advantages:
- Clean production of high value energy and chemical products from low cost fuels
- Gasification is a proven process which converts solid hydrocarbon fuels such as coal, biomass or petroleum coke into synthesis gas (syngas), which is a low to medium heating value fuel and chemical feedstock. Syngas may be sold, or broken down into its constituent parts (primarily carbon dioxide and hydrogen) and sold, or syngas may be further upgraded to methanol and dimethyl ether (DME)
- SES’s strategy is to develop, finance, co-own (through joint ventures), and operate coal gasification plants in its targeted “industrial” size range of 100 MW to 400 MW equivalent.
About M.M. Dillon & Co.
M.M. Dillon & Co. (formerly CRT Investment Banking LLC) is an employee owned partnership where industry and product specialists collaborate closely to provide creative, idea-driven advice and solutions to its institutional and corporate clients. M.M. Dillon offers public and private financing, M&A advisory and restructuring advisory services. M.M. Dillon’s team of experienced professionals provides execution capabilities for companies across a range of industry sectors. The firm’s senior banking professionals have a minimum of 20 years of experience with major Wall Street firms.