Deal sells 3,366,974 shares at $2.75 apiece with five-year warrants
By Devika Patel
Knoxville, Tenn., May 24 - Real Goods Solar, Inc. arranged a$9.26 million private placement of stock on May 24, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company will sell 3,366,974 class A common shares at $2.75 apiece, a 35.14% discount to the May 23 closing share price of $4.24.
Investors also will receive warrants for 1,683,488 shares. The warrants are exercisable at $2.75 for five years. The strike price is also a 35.14% discount to the May 23 closing price.
The solar energy company is based in Louisville, Colo.
| Issuer: | Real Goods Solar, Inc.
|
| Issue: | Class A common shares
|
| Amount: | $9,259,179
|
| Shares: | 3,366,974
|
| Price: | $2.75
|
| Warrants: | For 1,683,488 shares
|
| Warrant expiration: | Five years
|
| Warrant strike prices: | $2.75
|
| Pricing date: | May 24
|
| Stock symbol: | Nasdaq: RSOL
|
| Stock price: | $4.24 at close May 23
|
| Market capitalization: | $104.11 million
|
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