Company sells 135,937,500 common shares at $0.16 per share in offering
By Devika Patel
Knoxville, Tenn., May 6 - Solar Power, Inc. negotiated a $21.75 million private placement of stock on April 30, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company will sell 135,937,500 common shares at $0.16 per share. The price per share is a 27.27% discount to $0.22, the April 29 closing share price.
Settlement is expected July 30.
Solar Power is a photovoltaic technology company based in Roseville, Calif.
| Issuer: | Solar Power, Inc.
|
| Issue: | Common stock
|
| Amount: | $21.75 million
|
| Shares: | 135,937,500
|
| Price: | $0.16
|
| Warrants: | No
|
| Pricing date: | April 30
|
| Settlement date: | July 30
|
| Stock symbol: | OTCBB: SOPW
|
| Stock price: | $0.22 at close April 29
|
| Market capitalization: | $38.45 million
|
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