RGS Energy (RGSE) Prices Unit Offering for Proceeds of ~$2.2M
- Wall Street falls as investors ready for Trump's inauguration
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
- Skyworks Solutions (SWKS) Tops Q1 EPS by 3c, Offers Q2 Guidance, Announces Buyback
- After-Hours Stock Movers 01/19: (SWKS) (QRVO) (NVAX) Higher; (AFMD) (SGYP) (IBM) Lower (more...)
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
RGS Energy (Nasdaq: RGSE) announced that it has priced a public offering of 2,800 units of securities where each Unit is comprised of one share of Series A 12.5% Mandatorily Convertible Preferred Stock, stated value $1,000.00 per share, which is convertible into shares of Real Goods Solar, Inc. Class A common stock, par value $0.0001 per share (the “Common Stock”), at an initial conversion price of $5.50, and one Series H Warrant exercisable into 181.8181 shares of Common Stock at an initial exercise price of $5.50 in an underwritten public offering with each Unit priced at $1,000.00 per Unit. The net proceeds of the offering after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $2.2 million. Roth Capital Partners is acting as the sole book-running manager and WestPark Capital, Inc. as the co-manager for the offering.
RGS Energy expects to close the sale of the Units on or about Wednesday, September 14, 2016, subject to customary closing conditions. RGS Energy expects to use the proceeds from the offering for general corporate purposes including, without limitation, to reduce current accounts payable balances, to repay indebtedness under its revolving line of credit and to increase sales and operational capabilities with any remainder for general working capital purposes.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Zynerba Pharma (ZYNE) Prices 2.8M Shares at $18 Per Share
- EnteroMedics (ETRM) Prices Offering at $5.31 Per Unit, Including Warrant at $5.84
- Roth Capital Downgrades Ideal Power (IPWR) to Neutral
Create E-mail Alert Related CategoriesCorporate News, Equity Offerings
Related EntitiesRoth Capital, S1
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!