Offering sells units through Cowen to fund general corporate purposes
By Devika Patel
Knoxville, Tenn., Nov. 15 - Real Goods Solar, Inc. said it priced a $20.06 million public offering of units. The deal was announced Thursday.
The company will sell 5.9 million units of one class A common share and 0.85 of a warrant at $3.40 per unit. The whole warrants are exercisable at $3.41 for 5.5 years. The strike price is a 0.29% premium to the Nov. 14 closing share price of $3.40.
Cowen and Co., LLC is the bookrunning manager.
Settlement is expected Nov. 20.
Proceeds will be used for general corporate purposes.
The solar energy company is based in Louisville, Colo.
| Issuer: | Real Goods Solar, Inc.
|
| Issue: | Units of one class A common share and 0.85 of a warrant
|
| Amount: | $20.06 million
|
| Units: | 5.9 million
|
| Price: | $3.40
|
| Warrants: | 0.85 of a warrant per unit
|
| Warrant expiration: | Five and a half years
|
| Warrant strike price: | $3.41
|
| Bookrunner: | Cowen and Co., LLC
|
| Announcement date: | Nov. 14
|
| Pricing date: | Nov. 15
|
| Settlement date: | Nov. 20
|
| Stock symbol: | Nasdaq: RSOL
|
| Stock price: | $3.40 at close Nov. 14
|
| Market capitalization: | $97.76 million
|
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