By Devika Patel
Knoxville, Tenn., Dec. 8 – RGS Energy said it priced a public offering of units to raise about $4.1 million. The offering was announced Tuesday.
The company will sell units of one class A share and one warrant at $0.22 per unit, with each warrant exercisable at $0.35 for five years. The strike price is a 5.41% discount to the Dec. 7 closing share price of $0.37.
Roth Capital Partners, LLC and WestPark Capital are the agents.
Settlement is expected Dec. 13.
Proceeds will be used for general corporate purposes.
The issuer is a solar power and solar electric panel installation company based in Louisville, Colo. RGS Energy is the company’s registered trade name. Its official name is Real Goods Solar, Inc.
| Issuer: | RGS Energy
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| Issue: | Units of one class A share and one warrant
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| Amount: | $4.1 million (approximate)
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| Price: | $0.22
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| Warrants: | One warrant per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | $0.35
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| Agents: | Roth Capital Partners, LLC and WestPark Capital
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| Announcement date: | Dec. 6
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| Pricing date: | Dec. 8
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| Settlement date: | Dec. 13
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| Stock symbol: | Nasdaq: RGSE
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| Stock price: | $0.37 at close Dec. 7
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| Market capitalization: | $3.85 million
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