Lara Abrams Communications

SulphCo Completes Equity Financing for Gross Proceeds of Approximately $21.8 Million

Wednesday, June 11th, 2008

My list of blogs that I have to get out the door has grown exponentially in the last few weeks, so though I’m feeling completely behind on that front, I thought you’d all find this of interest, and it’s a quick thing for me to blog about since I’m currently trying to wrap up two other much longer blogs which you’ll all get a chance to read shortly.

This is a company that I find really interesting because if it’s not a sign of the times, I don’t know what is. This is a company focused on extending the life of a barrel of oil, plain and simple. This company’s technology is designed to upgrade sour heavy crude oils into sweeter, lighter crude oils, producing more gallons of usable oil per barrel. And their pr folks have been cranking out press releases left and right…the company’s moving…or so it seems to be — and fast.

Sort of makes you pause and think, right?

I haven’t managed to yet nail down a time to talk with SulphCo yet, but I will, as I’m trying to better understand the technology. In the meantime, here’s a snippet from a press release I received from their pr firm this morning:

SulphCo, Inc. - Houston, TX June 11, 2008. SulphCo, Inc. (the “Company” or “SulphCo”) (Amex: SUF) announced the completion, on June 10, 2008, of the sale of 6,818,750 shares of the Company’s common stock at a price of $3.20 per share pursuant to the previously announced Securities Purchase Agreement dated May 27, 2008 between the Company and a group of purchasers, and the receipt of aggregate proceeds to the Company of $21,820,000 before transaction costs. The shares were sold pursuant to a shelf registration statement declared effective by the Securities and Exchange Commission on September 4, 2007.

Taken together with the proceeds from the recent warrant exercise that resulted in gross proceeds of approximately $5.2 million, the Company has raised gross proceeds totaling approximately $27.0 million.

More on the company here and below.

6/9/2008
SulphCo Receives American Stock Exchange Approval of its Additional Listing Application
HOUSTON, June 9 /PRNewswire-FirstCall/ — SulphCo, Inc. (the “Company” or “SulphCo”) SUF announced the approval on June 6, 2008, by the American Stock Exchange of the Company’s additional listing application in connection with the sale of 6,818,750 shares of the Company’s common stock at a price of $3.20 per share pursuant to a Securities Purchase Agreement (”Purchase Agreement”) dated May 27, 2008 between the Company and a group of purchasers.

5/27/2008
SulphCo Agrees to Raise Approximately $22.1 Million in Equity Financing
HOUSTON, May 27 /PRNewswire-FirstCall/ — SulphCo, Inc. (the “Company” or “SulphCo”) SUF announced today that it executed a Securities Purchase Agreement on May 27, 2008 for the sale of up to 6.9 million shares of its common stock at $3.20 per share.

5/27/2008
SulphCo Raises Approximately $5.1 Million in Warrant Proceeds
HOUSTON, May 27 /PRNewswire-FirstCall/ — SulphCo, Inc. (the “Company” or “SulphCo”) SUF announced today that it has raised approximately $5.1 million through an exercise of approximately 1.9 million of its 2007 warrants.

5/13/2008
SulphCo Announces Annual Meeting Scheduled for June 18th
HOUSTON, May 13 /PRNewswire-FirstCall/ — SulphCo, Inc. (the “Company” or “SulphCo”) SUF announced today that it will hold its annual meeting on June 18, 2008 at 9:30 a.m. Eastern Daylight Time at the offices of Kirkpatrick & Lockhart Preston Gates Ellis LLP at 599 Lexington Avenue, New York, NY 10022.

4/30/2008
SulphCo Secures $60 Million Equity Financing Commitment
HOUSTON, April 30 /PRNewswire-FirstCall/ — SulphCo, Inc. (the “Company” or “SulphCo”) SUF announced today that it has secured a commitment for up to $60 million in equity financing under a common stock equity financing facility with Azimuth Opportunity Ltd. (”Azimuth”).

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To contact Lara, please email her at lara@laraabrams.com or call 415 613 1704.