2022-08-19 | NDAQ: CGRN | Press release

Capstone Green Energy (Nasdaq: CGRN) (“Capstone”, or the “Company”), a global leader in on-site resilient green energy and carbon reduction solutions as a service (EaaS), today announced the price of an underwritten public offering consisting of 2,934,498 common shares and accompanying warrants to purchase up to 2,934,498 common shares at a combined public offering price of $2.75 per share and accompanying warrant. The warrants have an exercise price of $2.75 per share, are exercisable immediately and will expire five years from the date of issue. The offering is expected to close on August 23, 2022, subject to customary closing conditions.

Lake Street Capital Markets, LLC is acting as sole bookrunner for the offering and Joseph Gunnar & Co., LLC is acting as co-manager of the offering.

Gross offering proceeds for Capstone, before underwriting discounts and commissions and offering fees, are expected to be approximately $8.0 million. Capstone intends to use the net proceeds from the offering for working capital, general corporate purposes and growth initiatives, including expanding its Energy as a Service long-term rental fleet.

A shelf registration statement on Form S-3 (File No. 333-254547) relating to the securities offered was filed with the United States Securities and Exchange Commission (the “SEC”) on March 22, 2021 and entered effective April 14. , 2021. The offering is being made only by means of a prospectus supplement and accompanying prospectus which form part of the shelf registration statement. A definitive prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying prospectus may be obtained, when available, from Lake Street Capital Markets, LLC, Attn: Syndicate Department, 920 Second Avenue South, Suite 700, Minneapolis, MN 55402, by calling (612) 326-1305, or by emailing syndicate@lakestreetcm.com. Before investing, you should read the final prospectus supplement and accompanying prospectus and the information incorporated therein for fuller information about Capstone and the offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, and there will be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or territory.

About Capstone:

Green Energy Capstone (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) is a leading provider of custom microgrid solutions and onsite energy technology systems dedicated to helping customers around the world achieve their environmental, energy conservation and of resilience. Capstone Green Energy focuses on four key business areas. Through its Energy as a Service (EaaS) business, it offers rental solutions using its microturbine energy systems and battery storage systems, full-service Plant Protection Plan (FPP) contracts that guarantee life cycle costs, as well as spare parts. Power Generation Technologies (EGT) are driven by the company’s resilient, highly efficient, low-emission and industry-leading microturbine power systems, offering scalable solutions in addition to a broad range of bespoke solutions including hybrid power systems and larger frame industrial turbines. . The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems by creating custom solutions using a combination of battery technologies and monitoring software. Through hydrogen and sustainable products (H2S), Capstone Green Energy offers its customers a variety of hydrogen-based products, including the company’s microturbine energy systems.

Forward-looking statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the company’s offer and other statements regarding expectations, beliefs, plans, intentions and company strategies. The Company has attempted to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intent,” “may, ” “will,” “plan,” “aim” and similar terms and phrases, but these words, terms and phrases are not the exclusive means of identifying these statements. Actual results, performance and achievements could differ materially from those expressed or implied by these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, the non- satisfaction of the closing conditions of the offer or other factors and other risks described in the Company’s prior press releases and in its filings with the SEC, including under the heading “Risk Factors in the Company’s preliminary prospectus supplement and accompanying prospectus relating to the offering and any other filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements. Except as expressly required by federal securities laws, the Company undertakes no obligation to update or revise this press release (including any forward-looking statements contained herein), whether as a result of new information, changed circumstances or future events or for any other reason, except as required by law. Further, the Company cannot guarantee future results, events, levels of activity, performance, projections or achievements.

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