Aspire Capital Invests in Beacon Power

Aspire Capital Fund has agreed to invest up to $25 million in Beacon Power (NASDAQ: BCON) through the purchase of stock during a 26-month term. On any trading day, Beacon can call on Aspire to buy up to 400,000 shares in the company, but no sales will be made if the purchase price, derived from the market price, is below $0.34. Aspire completed an initial $500,000 investment by purchasing 1.5 million shares of common stock.