By Devika Patel
Knoxville, Tenn., Feb. 6 – RGS Energy took in $11.49 million through a public offering of units. The deal priced for $11.5 million on Feb. 1.
The company sold 2,096,920 units of one class A common share and one warrant at $3.10 per unit and 1,613,080 units of one prepaid series L warrant and a series K warrant at $3.09 per unit.
Each series K and L warrant is exercisable at $3.10, a 19.9% discount to the Jan. 31 closing share price of $3.87, for five years. For the L warrants, $3.09 will be paid toward the exercise at closing with the remaining $0.01 payable upon exercise.
Roth Capital Partners was the agent and conducted the sale on a best-efforts basis.
Proceeds will be used for general corporate purposes.
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 one series K warrant, units of one prepaid series L warrant and a series K warrant
|
| Amount: | $11,484,869
|
| Warrant strike price: | $3.10
|
| Warrant expiration: | Five years
|
| Bookrunner: | Roth Capital Partners
|
| Lead manager: | WestPark Capital, Inc.
|
| Pricing date: | Feb. 1
|
| Settlement date: | Feb. 6
|
| Stock symbol: | Nasdaq: RGSE
|
| Stock price: | $3.87 at close Jan. 31
|
| Market capitalization: | $3.47 million
|
|
|
| Primary units
|
| Amount: | $6,500,452
|
| Units: | 2,096,920
|
| Price: | $3.10
|
| Warrants: | One series K warrant per unit
|
|
|
| Alternative units
|
| Amount: | $4,984,417
|
| Units: | 1,613,080
|
| Price: | $3.09
|
| Warrants: | One prepaid series L warrant and one series K warrant per unit
|
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