Pacific Ethanol closes US$34.25 million in financings

The California-based company sold 294,870 shares of its Series B Cumulative Convertible Preferred Stock - all of which are initially convertible into an aggregate of 884,610 shares of common stock based on an initial three-for-one conversion ratio, and warrants to purchase 442,305 shares of common stock at an exercise price of US$7 per share, for US$5.75 million.

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