November 26 2025 — Leads & Copy — Capstone Green Energy Holdings, Inc. has completed a private investment in public equity (PIPE) financing, generating approximately $15 million before fees and expenses.
The company issued 7.5 million shares of common stock, or pre-funded warrants in lieu thereof, at $2.00 per share. The transaction was priced with an approximate 8% premium over the company’s closing stock price of $1.85 on November 21, 2025.
Craig-Hallum Capital Group LLC served as the sole placement agent. Katten Muchin Rosenman LLP was counsel for Capstone, while Faegre Drinker Biddle & Reath LLP represented the placement agent.
Vince Canino, President and CEO of Capstone Green Energy, stated that the financing strengthens the company’s financial foundation and provides liquidity for execution. He noted that a majority of the Board and several executive leadership team members invested in the PIPE, along with institutional and accredited investors, reflecting confidence in Capstone’s strategy, technology platform, and commercial momentum in key markets like Microgrids, AI infrastructure, and data centers.
Robert Powelson, Interim Chairman of the Board, said the funding initiative would accelerate expansion into high-growth market verticals such as data centers, ports, and station power. He added that these markets align with the company’s hybrid distribution and direct sales strategy, and, combined with the rental fleet’s continued expansion and six consecutive quarters of growth, the company is well-positioned for the future.
Capstone intends to use the net proceeds to repay approximately $8.0 million of outstanding indebtedness maturing on December 7, 2025, advance ongoing product development, support expansion into AI infrastructure and data center power applications, and fund working capital for general corporate purposes.
John Miller, Board Member and Interim CFO, noted that the personal investments by directors and executive leadership show confidence in the company’s strategy and opportunities. He added that retiring near-term debt improves balance sheet flexibility, and the remaining capital will be deployed with financial discipline.
The securities have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption. Capstone has agreed to file a registration statement with the SEC to register the resale of the common stock shares and the underlying shares of the pre-funded warrants.
The company says the financing strengthens its ability to deliver resilient, sustainable, and intelligently clean energy solutions for mission-critical environments. Capstone’s microturbine-based microgrid technology provides reliability, redundancy, and efficiency for scaling AI workloads and hyperscale data centers while reducing carbon impact.
The company remains focused on financial health, sustainable operational excellence, and revitalization of culture and talent.
Capstone Green Energy has been a leader in clean technology for nearly four decades, shipping over 10,600 microturbine units to 88 countries. The company’s product range includes 65kW systems to multi-megawatt solutions and flexible Energy-as-a-Service (EaaS) offerings. Capstone has formed strategic partnerships to offer advanced technologies that leverage renewable gas and heat recovery solutions.
Forward-looking statements in the release are subject to factors, risks, uncertainties, and assumptions, including the company’s ability to execute strategic initiatives, its liquidity position, employee attrition, product quality issues, and industry and economic conditions.
Source: Capstone Green Energy
