By Devika Patel
Knoxville, Tenn., June 17 – SolarMax Technology, Inc. priced its $16 million initial public offering of stock, according to a Form S-1/A filed with the Securities and Exchange Commission. The deal was announced Dec. 26.
The company will sell 4 million common shares at $4.00 per share.
ViewTrade Securities, Inc. is the bookrunner.
Proceeds will be used for working capital and other corporate purposes.
The solar energy company is based in Riverside, Calif. The company expects its shares will trade on the Nasdaq under the symbol “SMXT.”
| Issuer: | SolarMax Technology, Inc.
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| Issue: | Common stock
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| Amount: | $29 million
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| Shares: | 14.5 million
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| Price: | $2.00
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| Warrants: | No
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| Announcement date: | Dec. 26
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| Pricing date: | June 17
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| Stock symbol: | Nasdaq: SMXT
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