Capstone Turbine Corp. on Thursday announced a registered offering of almost 21.5 million common stock and warrants that should net $29.5 million for the company.

The Chatsworth manufacturer of low-emission microturbine systems said it will issue units at $14.90 per unit consisting of 10 shares of common stock and warrants to purchase three shares of common stock.

The warrants would enable investors to purchase an additional 6.45 million shares in the future. Capstone said it plans to use the money for product development, growth and other general purposes. The financing is expected to close on or about Sept. 23.

Capstone shares were down 42 cents, or 24 percent, to $1.33 in morning trading on the Nasdaq.