HFR (hot fractured rock) geothermal development company GeoDynamics announced that it has sold 22.3M shares at $1.50 per stub to raise $33.5M (Australian.) Post offering, the company now has 258.9M shares outstanding for a market cap of over $388M (A.) The company continues its development of a 500MW planned HFR project in Australia.

This entry was posted on Monday, June 16th, 2008 at 6:49 am and is filed under Fossil Power.