BOSTON (Thomson Financial) - Real Goods Solar Inc. shares traded down
Thursday from its initial public offering opening price of $9 on the Nasdaq
Global Market.
The company's 5.5 million common share IPO priced Thursday at $10 per share,
the low end of its previously estimated $10 to $12 price range.
The shares recently changed hands at $8.69 on volume of 3.4 million.
The 5.5 million shares sold was an increase of 500,000 shares over the
original 5 million the company had planned to offer.
The Broomfield, Colo.-based residential solar energy integrator granted an
option for underwriters to purchase an additional 825,000 shares to cover any
over-allotments.
ThinkPanmure LLC acted as bookrunning lead manager of the $55 million
offering, the proceeds of which Real Goods intends to use to repay amounts owed
to its parent company, Gaiam Inc., for costs to acquire and expand its business.
Greg Saulnier
gs/pc
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