New Issue: Akeena Solar prices $26.1 million private placement of stock

By Laura Lutz

Des Moines, Nov. 2 - Akeena Solar, Inc. arranged a private placement of stock and warrants for about $26.1 million.

The company agreed to sell 3,728,572 common shares at along with warrants for 745,716 shares.

The stock is priced at $7.00 per share. The warrants are exercisable at $10.08 for five years.

GLG North American Opportunity Fund is the lead investor.

Based in Los Gatos, Calif., Akeena designs solar-power systems for residential and commercial customers.

Issuer:	Akeena Solar, Inc.
Issue:	Stock
Amount:	$26,100,004
Shares:	3,728,572
Price:	$7.00
Warrants:	For 745,716 shares
Warrant expiration:	Five years
Warrant strike price:	$10.08
Investor:	GLG North American Opportunity Fund (lead)
Pricing date:	Nov. 1
Stock symbol:	Nasdaq: AKNS
Stock price:	$7.40 at close Nov. 1

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.