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BOCA RATON, Fla., April 04, 2019 (GLOBE NEWSWIRE) -- Dawson James Securities Inc. on behalf of RGS Energy (RGSE: OTCQX) announced the closing of a Registered Offering of Primary and Alternative Units for aggregate gross proceeds of approximately $3.3 million.
The registered offering consisted of (A) 15,938,280 “Primary Units,” each consisting of one share of Class A common stock, par value $0.0001, or “Common Stock,” and a Series R Warrant to purchase one share of Common Stock, and (B) 1,430,141 “Alternative Units,” each consisting of one prepaid Series S Warrant to purchase one share of Common Stock and a Series R Warrant to purchase one share of Common Stock. The investors paid $0.19 for each Primary Unit and $0.18 for each Alternative Unit at closing.
The Series R Warrants are exercisable immediately after issuance at an exercise price of $0.20 per share and for a period of five years thereafter. The Series S Warrants are exercisable immediately after issuance and for a period of five years thereafter at an exercise price of $0.19 per share, of which $0.18 per share was paid at closing with $0.01 per share payable upon exercise of the Series S Warrant. The warrants will not be separately listed for trading. The terms of the transaction and the warrants are described in the Current Report on Form 8-K filed by RGS Energy on April 2, 2019.
RGS Energy will receive net proceeds of approximately $2.9 million.
Dawson James Securities Inc. acted as the exclusive placement agent for the offering.
The offering is being conducted pursuant to a prospectus supplement and an accompanying prospectus filed as part of an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (“SEC”). Copies of the prospectus supplement and the accompanying prospectus relating to the offering are available free of charge on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus may also be obtained from the offices of Dawson James Securities Inc. at 1 North Federal Highway, Suite 500, Boca Raton FL, 3342.
About RGS Energy
RGS Energy (RGSE) is America’s Original Solar Company and exclusive manufacturer of POWERHOUSE™, an innovative in-roof solar shingle using technology developed by The Dow Chemical Company.
For more information, visit RGSEnergy.com and RGSPOWERHOUSE.com, on Facebook at www.facebook.com/RGSEnergy and on Twitter at twitter.com/rgsenergy. Information on such websites and the websites referred to above in this press release is not incorporated by reference into this press release.
RGS Energy is the company’s registered trade name. RGS Energy files periodic and other reports with the SEC under its official name “Real Goods Solar, Inc.”
POWERHOUSE™ is a trademark of The Dow Chemical Company, used under license.
About Dawson James Securities Inc.
Dawson James Securities Inc. specializes in capital raising for small and microcap public and private growth companies primarily in the Life Science/Health Care, Technology and Consumer sectors. Dawson James is a full-service investment banking firm with research, institutional and retail sales, and execution trading and corporate services. Headquartered in Boca Raton, FL, Dawson James is privately held with offices in New York, Maryland and New Jersey. www.dawsonjames.com
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes”, “expects”, “anticipates” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements.
Member FINRA/SIPC. For more information, please contact:
Elise Stern, Sr. Managing Director