Series A convertible preferreds, warrants sold via Roth Capital Partners
By Devika Patel
Knoxville, Tenn., Sept. 9 – RGS Energy. said it priced a $2.8 million public sale of preferred units. The deal was announced Dec. 22.
The company will sell 2,800 units of one series A mandatorily convertible preferred share and 181.8181 warrants at $1,000 per unit.
Each whole warrant will be exercisable at $5.50, a 0.18% discount to the Sept. 8 closing share price of $5.51.
The preferreds may be converted into common shares at $3.87 per share, a 27.53% discount to the March 18 closing share price.
Roth Capital Partners is the bookrunner.
Settlement is expected Sept. 14.
Proceeds will be used for general corporate purposes.
RGS Energy is a solar power and solar electric panel installation company based in Louisville, Colo.
| Issuer: | RGS Energy
|
| Issue: | Units of one series A mandatorily convertible preferred share and 181.8181 warrants
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| Amount: | $2.8 million
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| Units: | 2,800
|
| Price: | $1,000
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| Conversion price: | $3.87
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| Warrants: | 181.8181 warrants per unit
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| Warrant strike price: | $5.50
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| Bookrunner: | Roth Capital Partners
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| Lead manager: | WestPark Capital, Inc.
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| Pricing date: | Sept. 9
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| Settlement date: | Sept. 14
|
| Stock symbol: | Nasdaq: RGSE
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| Stock price: | $5.51 at close Sept. 8
|
| Market capitalization: | $3.65 million
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