Sale of class A common shares, warrants conducted by WestPark Capital
By Devika Patel
Knoxville, Tenn., June 26 – RGS Energy said it priced a $5 million public sale of units. The deal was announced Thursday.
The company will sell units of one class A common share and 0.3 warrants at $3.65 per unit, with each whole warrant exercisable at $4.20 for five years. The strike price is a 3.67% discount to the June 25 closing share price of $4.36.
WestPark Capital, Inc. is the agent.
Settlement is expected June 30.
Proceeds will be used for general corporate purposes, working capital purposes and debt repayment.
RGS Energy is a solar power and solar electric panel installation company based in Louisville, Colo.
| Issuer: | RGS Energy
|
| Issue: | Units of one class A common share and 0.3 warrants
|
| Amount: | $5 million
|
| Price: | $3.65
|
| Warrants: | 0.3 warrants per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $4.20
|
| Agent: | WestPark Capital, Inc.
|
| Announcement date: | June 25
|
| Pricing date: | June 26
|
| Settlement date: | June 30
|
| Stock symbol: | Nasdaq: RGSE
|
| Stock price: | $4.36 at close June 25
|
| Market capitalization: | $15.3 million
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
