Ener-Core, Inc. (OTCPK:ENCR) announced that it entered into a stock purchase agreement for private placement of 696,056 shares at $4.31 per share for gross proceeds of $3,000,001.36 on April 11, 2016. Each share has a face value of $0.0001 and was issued at premium. The transaction included participation from an accredited investor.

The company incurred offering expenses of $30,001.36 and received net proceeds of $2,970,000. The company issued securities pursuant to exemption provided under Regulation D.