ReneSola hasentered into securities purchase agreements with several institutional investors for the purchase and sale of 2.50 million of American Depositary Shares (ADSs), each representing ten ordinary shares, at a purchase price of $16.00 per ADS, in a registered direct offering.  The registered direct offering is expected to close on or about January 11, 2021, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. 

The gross proceeds from the registered direct offering are expected to be $40.0 million before deducting placement agent fees and other offering expenses. The Company intends to use the net proceeds for expanding new solar project pipeline and general working capital need.

KeyFacts Energy Industry Directory: ReneSola Power