other material
confidence high
sentiment positive
materiality 0.50
SolarMax exercises IPO over-allotment, raising ~$20M gross proceeds
SolarMax Technology, Inc.
- Underwriters purchased 539,950 shares at $4.00/share upon partial exercise of overallotment option.
- Aggregate gross proceeds from IPO now approximately $20 million before expenses.
- Issued warrants to Kingswood for 43,196 shares at $4.80/share exercise price.
- Kingswood acted as sole bookrunner for the IPO and the over-allotment.