News | Energy Efficiency

http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/solar-by-technology-renewable-energy-news/satcon-seeks-32-7m-from-share-offering.html

Satcon Technology is hoping to raise $32.7m in a public offering it expects to close next Wednesday in order to pursue further acquisitions of renewable energy businesses.

The company filed nine million shares of its common stock at $3.90 per share with the Securities and Exchange Commission in the US yesterday.
It anticipates using the proceeds from the offering for research and development as well as possible future acquisitions and general corporate purposes.
Satcon has granted the underwriter an option to purchase up to an additional 1.35 million shares of its common stock to cover any overallotments.
Jefferies & Company is the sole book-running manager for the offering.
Satcon Technology provides utility-grade power conversion solutions for the renewable energy market.