EuroSite Power Inc. (OTCPK:EUSP) announced that it has entered into subscription agreements with Elias Samaras, Chief Executive Officer of the company, John N. Hatsopoulos, Bruno Meier, a member of the board of directors of the company, and Jacques de Saussute for a private placement on best effort basis of 12,608,696 shares at $0.575 per share for gross proceeds of $7,250,000 on May 12, 2016. Pursuant to the subscription agreement Elias Samaras has agreed to purchase 6,086,957 shares for gross proceeds of $3,500,000.28, John N. Hatsopoulos has agreed to purchase 1,739,100 shares for gross proceeds of $1,000,000, Bruno Meier has agreed to purchase 434,782 shares for gross proceeds of $250,000, and Jacques de Saussuter has agreed to purchase 4,347,826 shares for $2,500,000. The company will issue securities pursuant to the exemption provided under Regulation D. The transaction is expected to close on June 8, 2016. On the same date, the company announced that it has issued 7,826,087 shares for gross proceeds of $4,500,000.025 in its first tranche. The company issued 6,086,957 shares to Samaras Elias and 1,739,130 shares to John N. Hatsopoulos.