August 21, 2009 (FinancialWire) — Rentech, Inc. (AMEX: RTK) said it has signed a definitive subscription agreement to sell to an institutional investor 8,571,428 shares of its common stock at $1.75 per share for gross proceeds of around $15 million.

The company said it will use the net proceeds for general corporate purposes, including to fund a portion of the development costs related to Rentech’s renewable synthetic fuels and power project in Rialto, California. The sale of is scheduled to close on August 25.

Los Angeles-based Rentech is an energy solutions provider.

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