Disseminated on behalf of SolarBank Corporation
SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) has closed a registered direct offering with a single institutional investor, securing approximately $8.5 million in gross proceeds. The investor, backed by a bulge bracket investment bank and active in the energy sector, purchased 2,394,367 common shares and an equal number of warrants at a combined price of $3.55 per share. The warrants are immediately exercisable at $4.45 per share and expire in five years, potentially generating up to an additional $10.65 million. SolarBank plans to use the proceeds to support battery energy storage system projects, a community solar project in New York, and for general working capital. A.G.P./Alliance Global Partners served as sole placement agent.
To view the full press release, visit https://ibn.fm/tOUeY
About SolarBank Corporation
SolarBank Corporation is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the USA . The Company develops solar, Battery Energy Storage System (BESS) and EV Charging projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. The Company maximizes returns via a diverse portfolio of projects across multiple leading North America markets including projects with utilities, host off-takers, community solar, and virtual net metering projects. The Company has a potential development pipeline of over one gigawatt and has developed renewable and clean energy projects with a combined capacity of over 100 megawatts built.
For more information, visit the company’s website at SolarBankCorp.com.
This report contains forward looking information. Please refer to https://ibn.fm/G76GJ for additional details.
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The latest news and updates relating to SUUN are available in the company’s newsroom at https://ibn.fm/SUUN
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