Solar Power Inc. Enters $10.5 Million Private Placement


Solar Power Inc., a vertically integrated manufacturer of photovoltaic modules and marketer, designer and installer of PV solar electric systems, has entered into definitive agreements with institutional and accredited investors with respect to a private placement with gross proceeds of approximately $10.5 million.

The company says it intends to use the net proceeds from this financing for general corporate purposes, including working capital. ‘This additional equity will significantly help us to achieve our 2008 objectives,’ comments Stephen Kircher, CEO of Solar Power.

Needham & Company LLC served as lead placement agent, and Roth Capital Partners LLC served as co-placement placement agent for the transaction.

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