Shares of RGS Energy (NASDAQ: RGSE) are down 20% mid-morning after the company announced its securities purchase agreement for a registered offering of common stock and warrants. The “Primary Units” each consist of one share of Class A common stock (par value $0.0001) and a Series M Warrant to purchase common stock. The “Alternative Units” each consist of one prepaid Series N Warrant to purchase one share of common stock and a Series M Warrant to purchase common stock. The purchase price for a Primary Unit is $2.50 per unit and the purchase price for an Alternative Unit is $2.49 per unit, for expected gross proceeds of approximately $6.0 million. The company expects to receive net proceeds of approximately $5.5 million after paying the placement agent fees and estimated offering expenses. The offering is expected to close on or about February 9, 2017.
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About RGS Energy
RGS Energy is a residential and small commercial solar company since 1978, which has installed more than 25,000 solar power systems. RGS Energy makes it very convenient for customers to save on their energy bill by providing turnkey solar solutions – from system design, construction planning, customer financing assistance, installation, to interconnection and warranty. RGS Energy is the company’s registered trade name. The company files periodic and other reports with the SEC under its official name “Real Goods Solar, Inc.” For more information, visit www.rgsenergy.com.
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