By Devika Patel
Knoxville, Tenn., Feb. 9 – RGS Energy. raised $5.99 million through a public sale of units, according to an 8-K filed Thursday with the Securities and Exchange Commission. The deal priced for about $6 million on Wednesday.
The company sold 1.65 million units of one class A common share and 0.75 series M warrants at $2.50 per unit and 750,000 units of one prepaid series N warrant and a series M warrant at $2.49 per unit.
Each whole 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.
The strike price is a 10.09% premium to the Feb. 7 closing share price of $2.18.
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
|
| 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
|
| Amount: | $5,992,500
|
| Warrant strike price: | $2.40
|
| Warrant expiration: | Five years
|
| Pricing date: | Feb. 8
|
| Settlement date: | Feb. 9
|
| Stock symbol: | Nasdaq: RGSE
|
| Stock price: | $2.18 at close Feb. 7
|
| Market capitalization: | $9.26 million
|
|
|
| Primary units
|
| Amount: | $4,125,000
|
| Units: | 1.65 million
|
| Price: | $2.50
|
| Warrants: | 0.75 series M warrants per unit
|
|
|
| Alternative units
|
| Amount: | $1,867,500
|
| Units: | 750,000
|
| Price: | $2.49
|
| Warrants: | One prepaid series N warrant and one series M warrant per unit
|
|
|
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