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Mechanical Technology, Incorporated Announces Closing of Public Offering of Common Stock News provided by Share this article ALBANY, N.Y., April 29, 2021 /PRNewswire/ Mechanical Technology, Incorporated ( MTI or the Company ), (NASDAQ: MKTY), the parent company of MTI Instruments, Inc. ( MTI Instruments ) and EcoChain, Inc. ( EcoChain ), a cryptocurrency mining business powered by renewable energy, announced today the closing of its firm commitment underwritten public offering of 2,419,355 shares of its common stock, together with accompanying warrants to purchase up to 604,839 shares of common stock at a combined public offering price of $6.20. The warrants have an initial exercise price of $8.24 per share, are immediately exercisable and have a term of five years from the date of issuance.

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