Real Goods Solar, Inc. Prices $20 Million Public Offering of Units
LOUISVILLE, Colo., Nov. 15, 2013 (GLOBE NEWSWIRE) -- Real Goods Solar, Inc.
(Nasdaq:RSOL), a nationwide leader of turnkey solar energy solutions for
residential, commercial, and utility customers, today 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 Real Goods Solar from the sale of the
units are expected to be approximately $18.4 million, after deducting
underwriting discounts and commissions and other estimated offering expenses.
Real Goods Solar anticipates using the net proceeds from this offering for
general corporate purposes including investments in greater sales and project
origination capabilities and potential use of funds for appropriate
The offering is expected to close on or about November 20, 2013, subject to
customary closing conditions.
Cowen and Company, LLC acted as the sole book-running manager of the
The class A common stock and warrants described above were offered by Real
Goods Solar pursuant to a shelf registration statement on Form S-3 (No.
333-190050) including a base prospectus, previously filed and declared
effective by the Securities and Exchange Commission (SEC). A final prospectus
supplement related to the offering is expected to be filed with the SEC on
November 15, 2013 and will available on the SEC's website located at
www.sec.gov. Electronic copies of the final prospectus supplement also may be
obtained from Cowen and Company, LLC (c/o Broadridge Financial Services, 1155
Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, Phone:
631-274-2806, Fax: 631-254-7140).
The warrants described above will be exercisable upon the one year anniversary
of the issuance. The shares of common stock issuable upon exercise of the
warrants, or warrant shares, are not registered under a registration statement
or the prospectus supplement. Real Goods Solar has agreed to file a
registration statement covering the issuance of the warrant shares prior to
the time the warrants become exercisable.
This press release does not constitute an offer to sell or a solicitation of
an offer to buy any securities of Real Goods Solar, nor shall there be any
sale of securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction. This press
release is being issued pursuant to and in accordance with Rule 134 under the
Securities Act of 1933, as amended.
About Real Goods Solar, Inc.
Real Goods Solar, Inc. (Nasdaq:RSOL) is one of the nation's pioneering solar
energy companies serving commercial, residential, and utility customers.
Beginning with one of the very first photovoltaic panels sold to the public in
the U.S. in 1978, the company has installed more than 16,000 solar power
systems representing well over 110 megawatts of 100% clean renewable energy.
Real Goods Solar makes it very convenient for customers to save on their
energy bill by providing a comprehensive solar solution, from design,
financing, permitting and installation to ongoing monitoring, maintenance and
support. As one of the nation's largest and most experienced solar power
players, the company has 17 offices across the West and the Northeast. It
services the commercial and utility markets through its RGS Energy division.
For more information, visit RealGoodsSolar.com or RGSEnergy.com, on Facebook
at http://facebook.com/realgoodssolar and on Twitter at
Cautionary Statement Regarding Forward-Looking Statements
This communication includesforward-looking statements relating to matters
that are not historical facts. Forward-looking statements may be identified by
the use of words such as "expect," "intend," "believe," "will," "should" or
comparable terminology or by discussions of strategy. While Real Goods Solar
believes its assumptions and expectations underlying forward-looking
statements are reasonable, there can be no assurance that actual results will
not be materially different. Risks and uncertainties that could cause
materially different results include, among others, introduction of new
products and services, completion and integration of acquisitions, the failure
to close the Mercury acquisition, possibility of negative economic conditions,
the failure to close the offering and other risks and uncertainties included
in Real Goods Solar's filings with the Securities and Exchange Commission.
Real Goods Solar assumes no duty to update any forward-looking statements.
CONTACT: Media and Investor Relations Contact
Liolios Group, Inc.
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