DALLAS, Texas | PRINCIPAL SOLAR —
Principal Solar intends, subject to market and other conditions, to offer its common stock in an underwritten public offering of 2,500,000 shares of its common stock pursuant to a registration statement filed on Form S-1 with the Securities and Exchange Commission.
In connection with the offering, the company intends to grant the underwriter the option to purchase up to 375,000 additional shares of its common stock.
The estimated price range for the initial public offering is $9.00 to $11.00 per share of common stock, after considering a recent 1:4 reverse split effected May 6, 2015, and currently pending with FINRA.
Principal Solar has applied to list its common stock on the Nasdaq Capital Market under the symbol “PSWW”.
Northland Capital Markets is acting as sole underwriter for the offering.
The offering will be made only by means of a prospectus. A copy of the preliminary prospectus related to the offering may be obtained by sending a request to Northland Securities, Inc.
A registration statement on Form S-1 relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
This press release shall 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 under the securities laws of any such state or jurisdiction.
Northland Capital Markets is the trade name for certain capital markets and investment banking services of Northland Securities, Inc., member FINRA/SIPC.