Real Goods Solar, Inc. (NASDAQ:RGSE) investors are having a rough day after the company announced that it commenced a public offering of units consisting of its Class A common stock, par value $0.0001 per share (the “Common Stock”), and Series I Warrants to purchase shares of Common Stock. Roth Capital Partners will serve as exclusive placement agent in the offering on a “best efforts” basis.
The public offering would dilute shareholders’ investments, and as such Real Goods shares are currently dropping nearly 25% to $0.38 in per-market trading. RGSE has a 1-year high of $19.39 and a 1-year low of $0.38. The stock’s 50-day moving average is $2.14 and its 200-day moving average is $5.12.
Real Goods Solar, Inc. is a residential and commercial solar energy engineering, procurement, and construction firm. It offers turnkey services, including design, procurement, permitting, build-out, grid connection, financing referrals and warranty and customer satisfaction activities. The company’s history roots back to 1978. Real Goods Solar was founded on January 29, 2008and is headquartered in Louisville, CO.