Boston, MA 06/11/2013 (wallstreetpr) – The share prices of Real Goods Solar Inc. (NASDAQ:RSOL) had surged by 27.91 percent to close at $3.30 per share for the end of last trading session on Monday. The shares of the company had been trading in the range of $2.55 to $3.35 per share during the day. The shares of Real Goods Solar Inc. (NASDAQ:RSOL) had recorded 52 week high price level of $7.17 per share and 52 week low price level of $0.40 per share during the day.
Private Placement Offer of $9.25 million
Real Goods Solar Inc. (NASDAQ:RSOL), primarily engaged in the installation and maintenance of solar energy systems for the residential, commercial and utility customers had recently raised $9.25 million through a private placement of the company’s stock. The total value through private placement was issued as 3,366,974 shares as class A common stock at a purchase price of $2.75 per share and the remaining 1,683,488 shares as warrants to purchase class A common stock at an exercise price of $2.75 per share, exercisable for a period of five years from the date of issue.
Real Goods Solar Inc. (NASDAQ:RSOL) had successfully completed this private placement of the common stock and had thereby received $8.4 million as net proceeds from the offer, after deducting the commissions and fees. This net proceeds from the offer is planned to be utilized by the solar energy systems manufacturer to strengthen the capabilities of Real Goods Solar Inc. (NASDAQ:RSOL) with respect to marketing, sales and overall capacities and also to reduce the debt outstanding of the company.
The strengthening position of Real Goods Solar Inc. (NASDAQ:RSOL) as a leading downstream solar solutions provider and the improvements in the sales volume and operational capabilities achieved by the company over the years had created strong investor confidence which had further led to the success of this private placement offer. The company presently holds 26.68 million shares outstanding in the market with an institutional ownership of 48 percent of its holdings.
