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Posted On: 02/09/2017 4:04:13 PM
Post# of 22813
$RGSE: RGS Energy Completes $6 Million Registered Offering of Common Stock and Warrants
DENVER, Feb. 09, 2017 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ:RGSE), a residential and small commercial solar company since 1978, has completed the previously announced $6.0 million offering of (A) units, “Primary Units,” each consisting of one share of Class A common stock, par value $0.0001, or “Common Stock,” and a Series M Warrant to purchase 75% of one share of Common Stock, and (
units, “Alternative Units,” each consisting of one prepaid Series N Warrant to purchase one share of Common Stock and a Series M Warrant to purchase 75% of one share of Common Stock. The purchase price for a Primary Unit was $2.50 per unit and the purchase price for an Alternative Unit was $2.49 per unit. At closing the Company issued 1,650,000 Primary Units and 750,000 Alternative Units.
The Series M Warrants are exercisable immediately after issuance and for a period of five years thereafter at an exercise price of $2.40 per whole share. The Series N Warrants are exercisable immediately after issuance and for a period of five years thereafter at an exercise price of $2.50 per whole share, of which $2.49 per share was paid at the closing with $0.01 per share payable upon exercise of the Series N Warrant. The terms of the transaction and the warrants are described in the Current Report on Form 8-K filed by RGS Energy on February 8, 2017.
After placement agent fees and other estimated offering expenses, the net offering proceeds to RGS Energy total approximately $5.5 million.
“ We do not plan to seek additional equity capital for the foreseeable future,” said Alan Fine, RGS Energy’s Treasurer and Principal Financial Officer. “We believe we have the capital to execute our business strategy.”
Roth Capital Partners acted as the exclusive placement agent in the offering.
This offering was conducted under a shelf registration statement on Form S-3 (File No. 333-193718), including a base prospectus previously filed and declared effective by the Securities and Exchange Commission (“SEC”). The final prospectus supplement relating to the offering was filed with the SEC on February 8, 2017 and is available on www.sec.gov.
https://www.otcmarkets.com/stock/RGSE/news
DENVER, Feb. 09, 2017 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ:RGSE), a residential and small commercial solar company since 1978, has completed the previously announced $6.0 million offering of (A) units, “Primary Units,” each consisting of one share of Class A common stock, par value $0.0001, or “Common Stock,” and a Series M Warrant to purchase 75% of one share of Common Stock, and (
units, “Alternative Units,” each consisting of one prepaid Series N Warrant to purchase one share of Common Stock and a Series M Warrant to purchase 75% of one share of Common Stock. The purchase price for a Primary Unit was $2.50 per unit and the purchase price for an Alternative Unit was $2.49 per unit. At closing the Company issued 1,650,000 Primary Units and 750,000 Alternative Units. The Series M Warrants are exercisable immediately after issuance and for a period of five years thereafter at an exercise price of $2.40 per whole share. The Series N Warrants are exercisable immediately after issuance and for a period of five years thereafter at an exercise price of $2.50 per whole share, of which $2.49 per share was paid at the closing with $0.01 per share payable upon exercise of the Series N Warrant. The terms of the transaction and the warrants are described in the Current Report on Form 8-K filed by RGS Energy on February 8, 2017.
After placement agent fees and other estimated offering expenses, the net offering proceeds to RGS Energy total approximately $5.5 million.
“ We do not plan to seek additional equity capital for the foreseeable future,” said Alan Fine, RGS Energy’s Treasurer and Principal Financial Officer. “We believe we have the capital to execute our business strategy.”
Roth Capital Partners acted as the exclusive placement agent in the offering.
This offering was conducted under a shelf registration statement on Form S-3 (File No. 333-193718), including a base prospectus previously filed and declared effective by the Securities and Exchange Commission (“SEC”). The final prospectus supplement relating to the offering was filed with the SEC on February 8, 2017 and is available on www.sec.gov.
https://www.otcmarkets.com/stock/RGSE/news
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