Astropower Files Registration Statement for Public Offering
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Friday November 3, 5:09 pm Eastern Time
Press Release
SOURCE: AstroPower, Inc.
Astropower Files Registration Statement for Public Offering
NEWARK, Del., Nov. 3 /PRNewswire/ -- AstroPower, Inc. (Nasdaq: APWR - news) today announced that it had filed with the Securities and Exchange Commission an S-3 Registration Statement relating to a proposed public offering of 2,000,000 shares of common stock to be sold by the Company. In addition, the offering will include a 300,000 share over-allotment option granted to the underwriters consisting of 200,000 shares to be sold by the Company and 100,000 shares to be sold by certain stockholders of the Company. The net proceeds to the Company from the offering will be used for major expansion of manufacturing capacity and associated capital expenditures, research and development, working capital and other general corporate purposes. The managing underwriters for the offering are Chase H&Q, Credit Suisse First Boston, CIBC World Markets and FAC/Equities.
AstroPower develops, manufactures, markets and sells a range of solar electric power products, including solar cells, modules, panels and its SunChoice(TM) pre-packaged systems for the global marketplace.
A registration statement 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 by 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 of jurisdiction.
A written prospectus related to this offering can be obtained by contacting Chase H&Q's prospectus department at 415-439-3423 or Credit Suisse First Boston's prospectus department at 212-325-2580.
SOURCE: AstroPower, Inc. |
