Satcon Technology Announces Closing of Public Offering of Common Stock
28 October 2010 - 8:00AM
Business Wire
Satcon Technology Corporation (“Satcon”) (Nasdaq: SATC) today
announced the completion of its public offering of 10,350,000
shares of its common stock, including 1,350,000 shares issued
pursuant to the exercise in full of the underwriter’s overallotment
option, at a price to the public of $3.90 per share. The net
proceeds to Satcon from the sale of the shares, after deducting
underwriting discounts and commissions and estimated offering
expenses, were approximately $37.5 million.
Jefferies & Company, Inc. acted as the sole book-running
manager for the offering.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification of the shares under the securities laws of any such
state or jurisdiction.
A registration statement relating to the securities described
above has become effective by order or rule of the Securities and
Exchange Commission (“SEC”). A prospectus supplement relating to
the offering has been filed with the SEC and is available on the
SEC’s website located at www.sec.gov. Copies of the final
prospectus supplement relating to these securities may be obtained
from Equity Syndicate Prospectus Department, Jefferies &
Company, 520 Madison Avenue, 12th Floor, New York, NY, 10022, at
877-547-6340 and at Prospectus_Department@Jefferies.com.
About Satcon
Satcon Technology Corporation is a provider of utility-grade
power conversion solutions for the renewable energy market.
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