Private Placement

[eqd053]

I was reading this and i do not understand what this means. Does this mean that they are issuing more stock? Please help this poor lost investor.

"Finavera Renewables Inc. today announced that it has engaged Dundee Securities Corp. and CIBC World Markets Inc. (the "Agents") in connection with a best efforts private placement of units (the "Units"), to raise up to 57,500,000 Units at a price of $0.40 per share for gross proceeds of $23,000,000. The Agents will have an option to purchase up to an additional 12,500,000 ($5,000,000) Units at the issue price, exercisable in whole or in part at any time until 1 day prior to the closing date. Each Unit consists of one common share (the "Common Shares") and one Common Share purchase warrant ("Warrant"). Each Warrant will be exercisable for one common share in the Company at a price of $0.70 for a period of 24-months following the closing date. The exercise period of the warrants may be accelerated by the Company if the average price of the Common Shares exceeds $1.05 for a period of 20 consecutive trading days. Finavera plans to use the net proceeds of this financing to acquire a previously announced wind project in Germany, subject to satisfactory completion of final due diligence, as well as for general corporate purposes. "

[Stocktrading101]

Basically if I am reading this right the company is raising more capital via stock so it can make that purchase it wants to. All those details is basically extra jargon that only benefits those making the investment to buy the new shares.