Cooley advised ZapGo Ltd on its private placement of $7,648,000 (£5,700,000) of its 8.0% senior convertible notes and warrants, on which Rodman & Renshaw, a unit of H.C. Wainwright & Co., LLC, served as the company’s exclusive placement agent.
ZapGo chief executive Stephen Voller said: “This fantastic news from [the United States and] reinforces the confidence investors have in our charging technology that has been developed by our UK based team. This investment will help us finish off the R&D stage of our technology and put it into production,” he added.
ZapGo is a development stage entity focused on making ultra-fast charging graphene supercapacitors that can replace slow-charging lithium-ion batteries. The company’s first product, a five-minute charger that can be used to charge mobile phones and tablets, is due to be shipped to pre-order customers in 70 countries as soon as they can be manufactured.