Real Goods Solar (NASDAQ: RSOL) Announces $20M Public Offering, New Project

Brian Hicks

Written By Brian Hicks

Posted November 15, 2013

Real Goods Solar (NASDAQ: RSOL) Announces $20M Public Offering, New Project

Turnkey solar energy company Real Goods Solar (NASDAQ: RSOL) announced the sale of 5.9 million shares of class A common stock at a price of $3.40 per unit. The company is looking to take approximately $18.4 million after expenses.

The funds raised from this offering will go to “general corporate purposes” including investments and an increase in sales and lead generation. The company also mentioned these funds may go toward acquisitions.

In a separate announcement, Real Goods took the wraps off a modest 378 kW solar project for the Home Service Oil Company in Missouri. The project will include solar power solutions for eight gas stations and convenience stores in the greater St. Louis area. Construction will begin next month and will be completed by January 2014.

Real Goods has been in the solar power business for more than 35 years, and this actually marks the company’s first project in commercial gas stations.

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