By Devika Patel
Knoxville, Tenn., July 10 – Real Goods Solar, Inc. revised the prices of a $5 million private placement of stock on July 9, according to an 8-K filed Friday with the Securities and Exchange Commission.
WestPark Capital, Inc. was the agent for the deal, which priced on June 26 and raised $4.1 million on June 30 and $900,000 on July 1.
The company adjusted the price per unit to $1.2432 per share, lowered from $3.65 per share.
The company sold 1,369,864 units of one common share and 0.3 warrants in the offering. As a result of the adjustment, the company will issue 2,652,020 additional units.
In addition, the exercise price of the five-year warrants was lowered to $1.2432 from $4.20. The new strike price represents a 71.49% discount to the June 25 closing share price of $4.36.
The solar energy company is based in Louisville, Colo.
| Issuer: | Real Goods Solar, Inc.
|
| Issue: | Units of one common share and 0.3 warrants
|
| Amount: | $5 million
|
| Units: | 4,021,884
|
| Price: | $1.2432
|
| Warrants: | 0.3 warrants per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.2432
|
| Agent: | WestPark Capital, Inc.
|
| Pricing date: | June 26
|
| Settlement dates: | June 30 (for $4.1 million), July 1 (for $900,000)
|
| Amended: | July 9
|
| Stock symbol: | Nasdaq: RGSE
|
| Stock price: | $4.36 at close June 25
|
| Market capitalization: | $12.9 million
|
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