NetworkNewsBreaks – SolarBank Corp. (NASDAQ: SUU
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Posted On: 03/25/2025 5:11:40 PM
NetworkNewsBreaks – SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) Closes $8.5 Million Direct Offering with Institutional Investor
Disseminated on behalf of SolarBank Corporation
SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) has closed a registered direct offering with a single institutional investor, securing approximately $8.5 million in gross proceeds. The investor, backed by a bulge bracket investment bank and active in the energy sector, purchased 2,394,367 common shares and an equal number of warrants at a combined price of $3.55 per share. The warrants are immediately exercisable at $4.45 per share and expire in five years, potentially generating up to an additional $10.65 million. SolarBank plans to use the proceeds to support battery energy storage system projects, a community solar project in New York, and for general working capital. A.G.P./Alliance Global Partners served as sole placement agent.
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://nnw.fm/SUUN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
Disseminated on behalf of SolarBank Corporation
SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) has closed a registered direct offering with a single institutional investor, securing approximately $8.5 million in gross proceeds. The investor, backed by a bulge bracket investment bank and active in the energy sector, purchased 2,394,367 common shares and an equal number of warrants at a combined price of $3.55 per share. The warrants are immediately exercisable at $4.45 per share and expire in five years, potentially generating up to an additional $10.65 million. SolarBank plans to use the proceeds to support battery energy storage system projects, a community solar project in New York, and for general working capital. A.G.P./Alliance Global Partners served as sole placement agent.
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://nnw.fm/SUUN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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