31,739,500 shares sold at $1.38 each to Smart Range, Signet Worldwide
By Devika Patel
Knoxville, Tenn., Oct. 7 – Solar Power Inc. arranged a $43.8 million private placement of stock on Oct. 7, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company will sell 31,739,500 common shares at $1.38 per share. The price per share is a 9.21% discount to the Oct. 6 closing share price of $1.52.
Smart Range Investments Ltd. will buy 21,739,500 shares for $30 million, and Signet Worldwide Ltd. will buy 10 million shares for $13.8 million.
The photovoltaic solar developer is based in Roseville, Calif.
| Issuer: | Solar Power Inc.
|
| Issue: | Common stock
|
| Amount: | $43,800,510
|
| Shares: | 31,739,500
|
| Price: | $1.38
|
| Warrants: | No
|
| Investors: | Smart Range Investments Ltd. (for $30,000,510), Signet Worldwide Ltd. (for $13.8 million)
|
| Pricing date: | Oct. 7
|
| Stock symbol: | OTCBB: SOPW
|
| Stock price: | $1.52 at close Oct. 6
|
| Market capitalization: | $511.25 million
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
