Real Goods Solar completes the previously announced offering of 5,900,000 units, consisting of its class A common stock and Class A common stock warrants at a price of $3.40 per unit. The net offering proceeds from the sale total approximately $18.4 million
Real Goods Solar (Nasdaq:RSOL) has completed the previously announced offering of 5,900,000 units consisting of its class A common stock and Class A common stock warrants at a price of $3.40 per unit. Each unit consisted of one share of Class A common stock and one warrant to purchase 0.85 of a share of Class A common stock. The warrants have a term of five and one-half years and are initially exercisable beginning one year after the closing date. The warrants have an exercise price of $3.41 per share.
According to Real Goods Solar, the net offering proceeds from the sale total approximately $18.4 million, after deducting underwriting discounts, commissions and other estimated offering expenses.
Real Goods Solar CEO Kam Mofid commented: “These funds substantially strengthen our balance sheet, allowing us to accelerate growth in key residential and commercial markets. We will also be able to continue to invest in and enhance our sales and project development capabilities while increasing our overall operational and system deployment capacity.”
“Attractive customer economics and the environmental benefits of solar create a compelling case for continued growth in the sector,” added Mofid.