Real Goods Solar Prices $18.4 Million Public Offering

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Real Goods Solar announces the sale of 5,900,000 units. The sale consists of shares of its class A common stock and class A common stock warrants in an underwritten public offering at a price of $3.40 per unit. The net offering proceeds from the sale are expected to be approximately $18.4 million.

 

 

Real Goods Solar (Nasdaq:RSOL) has announced the sale of 5,900,000 units, consisting of shares of its class A common stock and class A common stock warrants in an underwritten public offering at a price of $3.40 per unit. The net offering proceeds to the company from the sale are expected to be approximately $18.4 million, after deducting underwriting discounts and commissions, plus other estimated offering expenses. 

Real Goods anticipates using the net proceeds for general corporate purposes, including investments in greater sales and project origination capabilities. The funds could also potentially be used for appropriate acquisitions. 

The offering is expected to close on or about November 20, 2013, subject to customary closing conditions. Cowen and Company acted as the sole book-running manager of the offering.