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ZBB Energy Corp., a developer of renewable energy platforms, says it has completed its previously announced underwritten public offering of 31.6 million shares of its common stock at a price to the public of $0.38 per share.

The net proceeds to ZBB from this offering are expected to be approximately $10.8 million after deducting underwriting discounts and commissions and other estimated offering expenses, the company says.

MDB Capital Group LLC acted as sole underwriter in the offering. ZBB granted the underwriter a 45-day option to purchase up to an aggregate of 4.7 million additional shares of common stock for up to $1.7 million to cover over-allotments. ZBB is using the net proceeds from the offering to repay existing indebtedness and the balance for working capital and general corporate purposes.

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