Showing posts with label Solar Stocks News. Show all posts
Showing posts with label Solar Stocks News. Show all posts

Thursday, September 23, 2010

Solar Stocks ; Underwriters Exercise Overallotment Option for 650,000 GT Solar (NASDAQ: SOLR) Shares in Secondary Offering

Solar Stocks ; Underwriters Exercise Overallotment Option for 650,000 GT Solar (NASDAQ: SOLR) Shares in Secondary Offering

MERRIMACK, N.H.--(http://www.investorideas.com/ clean energy stocks blog )--On September 23, 2010, GT Solar International, Inc. (NASDAQ: SOLR), announced that the underwriters for the recently announced secondary offering of GT Solar common stock have exercised in part their over-allotment option to purchase an additional 650,000 shares of GT Solar's common stock. The 11,650,000 shares of GT Solar common stock in the secondary offering, including the 650,000 shares subject to the over-allotment option, were sold at a price to the public of $7.39 per share. The sale of the 11,000,000 shares closed on September 15, 2010 and the sale of the 650,000 shares purchased pursuant to the over-allotment option closed on September 21, 2010.



All of the shares in the offering, including the shares subject to the over-allotment option, were sold by GT Solar Holdings, LLC. The Company did not receive any proceeds from the sale of the shares in connection with this secondary offering. Concurrently with the secondary offering, GT Solar Holdings, LLC also sold 14,000,000 shares of GT Solar’s common stock to UBS Securities LLC in connection with its underwriting of UBS AG’s Mandatorily Exchangeable Notes due 2013, which are exchangeable for shares of GT Solar’s common stock. Neither the Company nor GT Solar Holdings, LLC has any obligation to deliver any additional shares or other consideration in connection with the Mandatorily Exchangeable Notes.

The sale of the 650,000 shares in connection with the exercise of the over-allotment option was reported with the U.S. Securities and Exchange Commission on September 21, 2010 on separate Form 4s filed by Mr. J. Bradford Forth, Mr. R. Chad Van Sweden and Oaktree Capital Management, L.P., who may be deemed to have indirect beneficial ownership of the shares held by GT Solar Holdings, LLC.

Contacts

GT Solar International, Inc.

Media:

Jeff Nestel-Patt, 603-204-2883

jeff.nestelpatt@gtsolar.com

or

Investors/Analysts:
Bob Blair, 603-681-3869
bob.blair@gtsolar.com

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