Pineapple Energy Prices $1.0 Million Registered Direct Offering of Common Stock
05 Febrero 2024 - 7:00AM
Pineapple Energy Inc. (NASDAQ: PEGY) (“Pineapple” or the
“Company”), a leading provider of sustainable solar energy and
back-up power to households and small businesses, today announced
it has entered into a definitive agreement with investors for the
purchase and sale of 2,702,703 shares of the Company’s common stock
at a purchase price of $0.37 per share in a registered direct
offering. The gross proceeds to Pineapple from the offering are
expected to be approximately $1.0 million, before deducting
placement agent fees and other offering expenses payable by
Pineapple. The offering is expected to close on or about February
7, 2024, subject to customary closing conditions.
Roth Capital Partners is acting as the sole
placement agent for the offering.
Pineapple intends to use the proceeds from the
proposed offering for working capital and other general corporate
purposes.
The shares of common stock are being offered and
sold by the Company pursuant to an effective shelf registration
statement on Form S-3 (File No. 333-267066) previously filed with
the U.S. Securities and Exchange Commission (the “SEC”) and
declared effective by the SEC on September 2, 2022. The offering of
such securities is being made only by means of a prospectus
supplement that forms a part of the registration statement. Copies
of the prospectus supplement and accompanying base prospectus will
be filed with the SEC and, when available, may be obtained from
Roth Capital Partners, LLC, 888 San Clemente, Newport Beach, CA
92660, Attention: Prospectus Department, by telephone at (800)
678-9147 or by accessing the SEC's website, www.sec.gov.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any of the
securities described herein, 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.
About Pineapple Energy
Pineapple is focused on growing leading local
and regional solar, storage, and energy services companies
nationwide. Our vision is to power the energy transition through
grass-roots growth of solar electricity paired with battery
storage. Our portfolio of brands (SUNation, Hawaii Energy
Connection, E-Gear, Sungevity, and Horizon Solar Power) provide
homeowners and small businesses with an end-to-end product offering
spanning solar, battery storage, and grid services.
Forward-Looking Statements
This press release includes certain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
regarding the completion of its offering and the anticipated use of
proceeds therefrom, future financial performance, future growth or
growth opportunities, future opportunities, future cost reductions,
future flexibility to pursue acquisitions, future cash flows and
future earnings. These statements are based on the Company’s
current expectations or beliefs and are subject to uncertainty and
changes in circumstances. Actual results may vary materially from
those expressed or implied by the statements here due to changes in
economic, business, competitive or regulatory factors, and other
risks and uncertainties, including those set forth in the Company’s
filings with the SEC. The forward-looking statements in this press
release speak only as of the date of this press release. The
Company does not undertake any obligation to update or revise these
forward-looking statements for any reason, except as required by
law.
Contacts:
Kyle UdsethChief Executive Officer(952)
960-8630kyle.udseth@pineappleenergy.com
Eric IngvaldsonChief Financial Officer(952)
996-1674eric.ingvaldson@pineappleenergy.com
Pineapple Energy (NASDAQ:PEGY)
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