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Trina Solar Raises $98M in IPO, Solarfun Next

Trina Solar Ltd. (NYSE: TSL), a solar manufacturer based in China, raised $98.1 million in its NYSE IPO Tuesday with shares rising to $20.28 a share on the first day of trading. Shares rose 10% from its IPO of $18.50. The company sold 5.3 million American depositary shares at a price above its expected range of $13.50 to $15.50. Trina has been making solar modules since 2004, and plans to begin making its own solar cells by mid-2007. Revenue for the first nine months of the year increased by almost seven times to $75.7 million compared to the same period in 2005; income rose at the same pace to $7.8 million, as the average selling price of its products increased. Another Chinese solar company, Solarfun Power Holdings (Nasdaq: SOLF), priced its shares on Nasdaq at $12.50 a share, the middle of its $11.50-$13.50 range. The company, which makes solar cells and modules, is offering 12 million American Depositary Shares (ADS). Each ADS represents five ordinary shares. It raised $150 million by offering 12 million shares with underwriters Goldman Sachs Asia and CIBC World Markets. Insiders sold about 1.8 million shares. The company plans to use the IPO proceeds to buy […]

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Nova Announces Private Placement

Nova Biosource Fuels, Inc. (OTCBB: NVBF) announced a private placement totaling $43.9 million. The company is selling 24.4 million shares of stock and warrants to purchase up to approximately 7.3 million additional shares at $1.93 per unit. The warrants have a five-year term and an exercise price of $2.72 per share. The private placement is expected to close on Thursday, December 21, 2006. Nova intends to use the net proceeds for working capital and for capital and operating expenditures in the pursuit of its business strategy to build and operate two to four biodiesel refineries with a production capacity of between 120 to 240 million gallons of biodiesel fuel per year. About Nova Biosource Fuels, Inc. Nova Biosource Fuels, Inc. uses a proprietary, low-cost manufacturing process to turn waste and oils into biodiesle. Nova’s business strategy for the next three years includes the construction of up to seven biodiesel refineries with production capacities ranging from 20 to 60 million gallons each per year. Website: [sorry this link is no longer available]     

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Ecosphere Completes $5 Million Raise

Ecosphere Technologies, Inc. (OTCBB: ESPH) has closed a $5 million private capital raise with institutional and accredited investors. Proceeds will be used to support expansion of the Company’s subsidiaries, for working capital and to repay debt. Ecosphere’s CEO Dennis McGuire stated, “This financing provides the capital resources required to expand our growth strategy. We are also very pleased with the quality of institutional investors that have responded to our strategy and opportunity to invest in our Company and products. With the increasing global focus on the importance of Clean Tech solutions, Ecosphere is well positioned to create value from our intellectual property portfolio that addresses improving the quality of life around the world.” Mr. McGuire, continued, “This infusion of capital will help Ecosphere make additional operational investments to drive our organic growth and meet our financial targets. We are at a focal point, with all major R&D concluded, as we center our efforts on producing profits to increase shareholder value.” About Ecosphere Technologies: Ecosphere creates engineered and patented Clean Tech solutions that address pressing global environmental and humanitarian issues. The Company has developed products that reduce the discharge of contaminated residue into the air, oceans and other water systems, as […]

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