Principal Solar, Inc. (PSI)(OTC Pink:PSWW) today announced that it
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. at 45 South
7th Street, Suite 2000, Minneapolis, MN 55402, via telephone toll free
at (800) 851-2920 or via email to mhubbard@northlandcapitalmarkets.com.
Before you invest, you should read the prospectus.
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.
About Principal Solar
Principal Solar, Inc. is a solar power company that is building and
operating utility-scale projects. Principal Solar has an entrepreneurial
growth strategy: to identify attractive solar projects at an early stage
in their development, complete their construction, and bring them on
line and selling power via long-term power purchase agreements (PPAs). The
Principal Solar Institute, an educational organization created by
Principal Solar, Inc., is dedicated to spreading solar knowledge to the
critical stakeholders in the solar and broader electricity markets.
Safe Harbor Statement
This press release contains certain forward looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995 and
other securities laws. Any such statements, including, but not limited
to, Principal Solar’s expectations regarding the completion, timing and
size of its proposed public offering, whether expressed or implied, are
subject to risks and uncertainties which can cause actual results to
differ materially from those currently anticipated due to a number of
factors which include, but are not limited to, risks and uncertainties
associated with market conditions and the satisfaction of customary
closing conditions related to the proposed offering, and other risk
factors discussed in the Company's preliminary prospectus and other
documents filed with the SEC from time to time. These forward-looking
statements represent the company’s judgment as of the date of this press
release. Except as legally required, the company disclaims any intent or
obligation to update these forward-looking statements.
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