Company sells its stock at $2.70 per share in two $25 million tranches
By Devika Patel
Knoxville, Tenn., May 4 – Solar Power, Inc. said it negotiated a $50 million private placement of stock with Yes Yield Investments Ltd.
The company will sell common shares at $2.70 per share in two equal tranches. The price per share is a 31.71% premium to $2.05, the May 1 closing share price.
Solar Power is a photovoltaic technology company based in Roseville, Calif.
Issuer: | Solar Power, Inc.
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Issue: | Common stock
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Amount: | $50 million
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Price: | $2.70
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Warrants: | No
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Investor: | Yes Yield Investments Ltd.
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Pricing date: | May 4
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Stock symbol: | OTCBB: SOPW
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Stock price: | $2.05 at close May 1
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Market capitalization: | $1.22 billion
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