Principal Solar Receives $15 Million Equity Financing

Principal Solar Inc. (PSI), a publicly traded renewable energy holding company focusing on the acquisition, finance, development and management of solar power companies, has entered into a definitive agreement with AGS Capital Group LLC, a New York-headquartered investment fund, to provide investment capital of up to $15 million through a reserve equity financing.

‘The process of moving Principal Solar to the next level – both as a growth company and as a publicly traded security – is significantly enhanced by this new AGS facility,’ says Michael Gorton, CEO and chairman of PSI. ‘We are executing on our business model and expect to capitalize on the growing market confidence in solar energy.’

Cerulean Advisors LLC, an investment banking and advisory firm, acted as investment banker to PSI and advised the company on the transaction.

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