On Monday, solar-power product maker Evergreen Solar Inc. (NasdaqGM: ESLR) filed a registration statement for a proposed offering of 20 million shares of stock.
According to the release, Evergreen will receive net proceeds of about $231.9 million, or $266.8 million if underwriters exercise an option for an additional 3 million shares.
The company says it will use the funds to finish developing a new manufacturing facility in Devens, Mass., and other general uses.
Deutsche Bank Securities Inc. is acting as sole book-runner and Lazard Capital Markets LLC, Pacific Growth Equities LLC, Simmons & Company International and ThinkEquity Partners LLC are acting as co-managers.
About Evergreen Solar, Inc.
Evergreen Solar, Inc. develops, manufactures and markets solar power products using proprietary manufacturing technologies. The company says its patented crystalline silicon technology, known as String Ribbon, uses significantly less silicon than conventional approaches. Evergreen Solar’s products provide reliable and environmentally clean electric power for residential and commercial applications globally.
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