![\"\"](\"http:\/\/www.greenenergyreporter.com\/wp-content\/themes\/v1\/img\/cat\/funding.png\" "\\"Funding\\"")
![\"\"](\"http:\/\/www.greenenergyreporter.com\/wp-content\/themes\/v1\/img\/cat\/geothermal.png\" "\\"Geothermal\\"")
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<\/span><\/p>\n Cantor’s pricing was competitive, the executive says. Although, the clincher for Raser might have been the bank’s experience with the type of offering Raser is doing, known as a controlled equity offering whereby companies agree to sell a specified number of common shares in at-the-market transactions. Cantor Managing Director Jeff Lumby, who is listed in Raser’s 8K, launched Cantor’s dedicated controlled equity group in 2001<\/a>.<\/p>\n Raser, one of the country’s largest geothermal developer, will use proceeds from the share issuance to support development and construction of\u00a0 the 15-megawatt Lightning Dock project in New Mexico. We’re told that the company has secured a driller and expects to start construction in the next few weeks.<\/p>\n Lightning Dock is slated to start operating in 2011 and is backed by a 20-year power purchase agreement with the Salt River Project Agricultural Improvement and Power District (SRP), a utility district in neighboring Arizona.<\/p>\n For long-term financing, besides the equity issuance, Raser is also considering applying for a loan guarantee, the company executive says, declining to provide specifics on the dollar amount it would seek.<\/p>\n![\"\"](\"http:\/\/greenenergyreporter.com\/wp-content\/uploads\/2010\/04\/iStock_000004234092XSmall.jpg\" "\\"istock")
<\/a>New York investment bank Cantor Fitzgerald is the lead agent for the $25 million share offering of geothermal developer Raser Technologies.\u00a0 An official at the Provo, Utah-based company tells G.E.R. that it’s never worked with Cantor before.<\/p>\n