ClearSign board member resigns; clirSPV exercises full participation right for ~$4.3M

ClearSign Technologies Corp

Board member Robert T. Hoffman Sr. resigned effective June 16, 2024; successor designee being vetted.
clirSPV LLC exercised Participation Right in full, purchasing shares and warrants for ~$4.3M gross proceeds.
Exercise includes 3.9M common shares, pre-funded warrants for 786K shares, redeemable warrants for 7.0M shares.
Expected close on or about June 24, 2024; proceeds for working capital, R&D, sales.
Hoffman said clirSPV's total capital infusion now $19.1M; believes sales funnel will convert to orders.

item 5.02 item 8.01 item 9.01

Executive movements

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Departed

Robert T. Hoffman, Sr.

Director

CLIR · ClearSign Technologies Corp

Effective: 2024-06-16
Filed: June 20, 2024, 7:59 PM ET

On June 16, 2024, Robert T. Hoffman, Sr., notified the board of directors (the “Board”) of ClearSign Technologies Corporation (the “Company”) that he resigned from the Board, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Robert T. Hoffman, Sr. resigned as Director at ClearSign Technologies Corp.

Action: resigned
Role: Director

Exact text from the filing

On June 16, 2024, Robert T. Hoffman, Sr., notified the board of directors (the “Board”) of ClearSign Technologies Corporation (the “Company”) that he resigned from the Board, effective immediately.

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ClearSign Technologies Corp filing history →

Source: SEC EDGAR

accession 0001104659-24-073167

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