By Devika Patel
Knoxville, Tenn., Jan. 2 – Real Goods Solar, Inc. settled a $1.83 million private placement of stock on Jan. 4, according to an 8-K filed with the Securities and Exchange Commission. WestPark Capital, Inc. was the agent for the placement, which priced on Jan. 2 and was announced alongside a $3,664,000 public sale of stock and warrants.
In the private placement, the company sold 800,000 common shares at $1.15 apiece, a 22.3% discount to the Dec. 29 closing share price of $1.48, and 800,000 series P warrants at $1.14 apiece, also a 22.3% discount to the Dec. 29 closing share price. The series P warrants are each exercisable at $0.01 for five years.
Investors also received series O warrants for 1.6 million shares, which are each exercisable at $1.47 for five years. The strike price is a 0.1% discount to the Dec. 29 closing share price.
Proceeds will be used in connection with the commercialization of the Powerhouse product and for general corporate purposes.
In the public sale, the company will sell 1.6 million common shares at $1.15 apiece and 1.6 million series P warrants at $1.14 apiece. These series P warrants are also each exercisable at $0.01 for five years.
The warrants in the public sale will be offered in lieu of stock to purchasers whose holding would rise above 4.99% or 9.99%.
The solar energy company is based in Louisville, Colo.
| Issuer: | Real Goods Solar, Inc.
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| Issue: | Common stock
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| Amount: | $1,832,000
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| Shares: | 800,000
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| Price: | $1.15
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| Series P warrants: For 800,000 shares
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| Price: | $1.14
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| Warrant expiration: | Five years
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| Warrant strike price: | $0.01
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| Series O warrants: | For 1.6 million shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $1.47
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| Agent: | WestPark Capital, Inc.
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| Pricing date: | Jan. 2
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| Settlement date: | Jan. 4
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| Stock symbol: | Nasdaq: RGSE
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| Stock price: | $1.48 at close Dec. 29
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| Market capitalization: | $10.27 million
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