ReneSola crashes after pricing $70M stock/warrant offering


ReneSola (SOL -18.9%) is selling $70M worth of shares (net proceeds of $65.9M) at $4.67, well below yesterday's closing price of $5.49. Moreover, the offering includes warrants equal to 35% of the offered shares, and carrying an initial exercise price of $6.04. The warrants expire after 4 years. (PR)

Between the shares and the warrants, the offering could eventually increase ReneSola's ADS share count by 23% from a current 86.9M.

ReneSola is far from the only solar company looking to raise fresh capital following a big 2013 run-up (I, II, III)

Comments (3)
  • aurangzeb niazi
    , contributor
    Comments (4) | Send Message
     
    thank you alas i suffered great loss today did not recieve your intimation price of purchase is 5 69 what should i do...aurangzeb niazi
    11 Sep 2013, 10:45 PM Reply Like
  • Will347
    , contributor
    Comments (133) | Send Message
     
    losses today are at parity with the worst case share issuance the company has exercised. Watch the 50 day moving average which while rising generally indicates an uptrend while a strong move below could indicate more tough times for SOL
    12 Sep 2013, 02:48 AM Reply Like
  • Kevin Nguyen
    , contributor
    Comment (1) | Send Message
     
    I am a part time stock trading. My tradings are on SOL, STP, LDK and CPST. Good luck with future investing.
    13 Sep 2013, 01:35 PM Reply Like
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