SolarMax Technology completes IPO of 4.5M shares at $4.00 for $18M gross proceeds

SolarMax Technology, Inc.

IPO of 4,500,000 shares at $4.00 per share; gross proceeds of $18M before expenses.
Underwriters granted 45-day option for additional 675,000 shares at $4.00 to cover over-allotments.
Shares began trading on Nasdaq Global Market under ticker SMXT on Feb 27, 2024.
Issued Representative's Warrant to Kingswood for 360,000 shares at $4.80, exercisable through Feb 12, 2029.
Kingswood, a division of Kingswood Capital Partners, acted as sole bookrunner.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SolarMax Technology, Inc. entered into Underwriting Agreement with Kingswood, a division of Kingswood Capital Partners, LLC (the "Representative") valued at $4.00 per share (effective 2024-02-27).

Action: entry
Agreement: underwriting
Counterparty: Kingswood, a division of Kingswood Capital Partners, LLC (the "Representative")
Value: $4.00 per share
Effective: 2024-02-27

Exact text from the filing

On February 27, 2024, SolarMax Technology, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Kingswood, a division of Kingswood Capital Partners, LLC (the “Representative”), as representative of the underwriters.

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SolarMax Technology, Inc. filing history →

Source: SEC EDGAR

accession 0001640334-24-000325

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