Deal sells 2,919,351 shares at $2.40 apiece with five-year warrants
By Devika Patel
Knoxville, Tenn., July 3 – Real Goods Solar, Inc. arranged a $7.01 million private placement of stock on July 2, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company will sell 2,919,351 class A common shares at $2.40 apiece, a 37.34% discount to the July 2 closing share price of $3.83.
Investors also will receive warrants for 1,313,708 shares. The warrants are exercisable at $3.19 for five years. The strike price is a 16.71% discount to the July 2 closing price.
Roth Capital Partners, LLC is the lead placement agent, and Maxim Group LLC is the co-placement agent.
The solar energy company is based in Louisville, Colo.
| Issuer: | Real Goods Solar, Inc.
|
| Issue: | Class A common shares
|
| Amount: | $7,006,442
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| Shares: | 2,919,351
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| Price: | $2.40
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| Warrants: | For 1,313,708 shares
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| Warrant expiration: | Five years
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| Warrant strike prices: | $3.19
|
| Agents: | Roth Capital Partners, LLC (lead) and Maxim Group LLC (co-placement agent)
|
| Pricing date: | July 2
|
| Stock symbol: | Nasdaq: RSOL
|
| Stock price: | $3.83 at close July 2
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