Mariah Power Inc. said in a filing with the Securities and Exchange Commission that it's raising $2.5 million through a private offering of stock and warrants to purchase its stock.
The Reno-based manufacturer of wind-power appliances will use the funds to finance further growth, said Amy Berry, a spokeswoman for Mariah.
The company has said it plans to introduce multiple new products based on its wind-generation technology.
The new products in the company's pipeline include off-grid capabilities, larger rotors and a system that is able to generate more energy at lower wind speeds.
In its filing with the SEC, Mariah said it is selling the stock and warrants under a provision that allows sale of non-registered stock to sophisticated investors and up to 35 other purchasers.
The company, which is privately held, said that it had raised $196,255 in the new offering by mid-November.
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