SEATTLE, Feb. 23, 2018 /PRNewswire/ -- ClearSign
Combustion Corporation (Nasdaq: CLIR) ("ClearSign" or the "Company"), an emerging leader in industrial combustion
technologies that reduce emissions and improve efficiency, today announced the pricing of its previously announced underwritten
public offering. ClearSign is offering 5,000,000 shares of its common stock, par value $0.0001 per
share, at a price to the public of $2.25 per share. In connection with the offering, ClearSign has
also granted the underwriter a 45-day option to purchase up to an additional 750,000 shares of common stock offered in the public
offering to cover over-allotments, if any.
National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation (NasdaqCM:NHLD) is acting as sole
book running manager for the offering.
The Company expects to receive gross proceeds from the offering, excluding the exercise of the over-allotment option, if any,
of approximately $11.25 million, excluding underwriting discounts and commissions and other
offering-related expenses. Assuming the full exercise of the over-allotment option, the gross proceeds may reach $12.9 million.
ClearSign intends to use the net proceeds from the offering primarily for sales and marketing, business development, research
and development, working capital and general corporate purposes.
The offering is expected to close on February 27, 2018, subject to customary closing
conditions.
A shelf registration statement relating to the shares of common stock being offered was filed with the U.S. Securities and
Exchange Commission (SEC) and was declared effective on January 7, 2016. Copies of the final
prospectus supplement and the accompanying base prospectus relating to the offering may be obtained by request to the offices of
National Securities Corporation, Attn: Marguerite Rogers, Sr. Vice President, 200 Vesey St,
25th Floor, New York, NY 10281, Telephone: (212)-417-8227; Email: prospectusrequest@nationalsecurities.com; or the on the
SEC's website at http://www.sec.gov.
A final prospectus supplement describing the terms of the offering will be filed with the SEC. This press release
shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in
any state or jurisdiction in which such an offer, solicitation or sale is not permitted.
About ClearSign Combustion Corporation
ClearSign Combustion Corporation designs and develops products and technologies for the purpose of improving key performance
characteristics of combustion systems, including emissions and operational performance, energy efficiency and overall
cost-effectiveness. Our patented Duplex™, Duplex Plug & Play™ and Electrodynamic Combustion Control™ platform technologies
enhance the performance of combustion systems in a broad range of markets, including the energy (upstream oil production and
down-stream refining), commercial/industrial boiler, chemical, petrochemical, and power industries. For more information, please
visit www.clearsign.com.
Cautionary Note on Forward-Looking Statements
All statements in this press release that are not based on historical fact are "forward-looking statements." While management
has based any forward-looking statements included in this press release on its current expectations, the information on which
such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future
events and are subject to a number of risks, uncertainties and other factors, many of which are outside of the Company's control,
which could cause actual results to materially differ from such statements. Such risks, uncertainties and other factors include,
but are not limited to, general business and economic conditions, the performance of management and the Company's employees, the
Company's ability to obtain financing, competition, whether the Company's technology will be accepted and other factors
identified in the Company's Annual Report on Form 10-K filed with the Securities & Exchange Commission and available
at www.sec.gov and other factors that are detailed in the Company's periodic and current reports available for review
at www.sec.gov. Furthermore, the Company operates in a competitive environment where new and unanticipated risks may arise.
Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. The Company
disclaims any intention to, and undertakes no obligation to, update or revise forward-looking statements to reflect events or
circumstances that subsequently occur or of which the Company hereafter becomes aware.
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SOURCE ClearSign Combustion Corporation