By Sheri Kasprzak
New York, Oct. 6 - Solar Power, Inc. completed a private placement of its stock for $16 million.
The company issued a total of 16 million shares in two tranches.
In the most recent tranche, the company issued 5,190,021 shares. In the first tranche, which closed Sept. 19, the company issued 10,809,979 shares.
The offering was conducted following a 1-for-3 reverse stock split and subsequent to the company's merger with Welund Fund, Inc.
Roth Capital Partners, LLC was the placement agent.
Solar Power, based in Granite Bay, Calif., operates solar power generation projects. Before the merger, Welund Fund, based in Rancho Cordova, Calif., had no significant operations.
| Issuer: | Solar Power, Inc.
|
| Issue: | Stock
|
| Amount: | $16 million
|
| Shares: | 16 million
|
| Price: | $1.00
|
| Warrants: | No
|
| Placement agent: | Roth Capital Partners, LLC
|
| Settlement date: | Oct. 4
|
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