GreenEnergyBreaks — SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) Closes $8.5 Million Direct Offering with Institutional Investor
Disseminated on behalf of SolarBank Corporation SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) has closed a registered direct offering with a single institutional investor, securing approximately $8.5 million in gross proceeds. The investor, backed by a bulge bracket investment bank and active in the energy sector, purchased 2,394,367 common shares and an equal number of warrants at a combined price of $3.55 per share. The warrants are immediately exercisable at $4.45 per share and expire in five years, potentially generating up to an additional $10.65 million. SolarBank plans to use the proceeds to support battery energy storage system projects,…
