By Devika Patel
Knoxville, Tenn., Feb. 8 – RGS Energy. said it will raise about $6 million through a public offering of units.
The company will sell units of one class A common share and 0.75 series M warrants at $2.50 per unit and units of one prepaid series N warrant and a series M warrant at $2.49 per unit.
Each series M and N warrant will be exercisable at $2.40, a 19.9% discount to the Feb. 7 closing share price of $3.87, for five years. For the N warrants, $2.49 will be paid towards the exercise at closing with the remaining $0.01 payable upon exercise.
Settlement is expected Feb. 9.
RGS Energy 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 common share and 0.75 series M warrants, units of one prepaid series N warrant and a series M warrant
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| Amount: | $6 million (approximate)
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| Warrant strike price: | $2.40
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| Warrant expiration: | Five years
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| Pricing date: | Feb. 8
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| Settlement date: | Feb. 9
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| Stock symbol: | Nasdaq: RGSE
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| Stock price: | $2.85 at close Feb. 7
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| Market capitalization: | $2.97 million
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| Primary units
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| Price: | $2.50
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| Warrants: | 0.75 series M warrants per unit
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| Alternative units
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| Price: | $2.49
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| Warrants: | One prepaid series N warrant and one series M warrant per unit
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