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HOUSTON, Dec. 31, 2020 /PRNewswire/ Orbital Energy Group, Inc. (NASDAQ: OEG) ( Orbital or the Company ) today announced it has entered into a securities purchase agreement with institutional investors for the purchase and sale of 5,555,556 shares of its common stock, at a purchase price of $1.80 per share, in a registered direct offering. The closing of the offering is expected to occur on or about January 5, 2021, subject to the satisfaction of customary closing conditions.
A.G.P./Alliance Global Partners is acting as sole placement agent for the offering.
This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-239914) previously filed with the U.S. Securities and Exchange Commission (the SEC ). A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC s website located at http://www.sec.gov. Electronic copies of