Satcon Technology: Public Offering
Satcon Technology Corporation, a leading provider of utility scale distributed power solutions for the renewable energy market, announced that it intends to offer shares of its common stock in a $20,225,000 public offering pursuant to an effective shelf registration statement. The Company expects to grant the underwriters a 30-day option from the date of the final prospectus supplement to purchase up to an additional $3,033,750 of its common stock. All of the shares of common stock will be offered by the Company. Thomas Weisel Partners LLC managing underwriter and book runner and Ardour Capital Investments, LLC will act as co-managing underwriter.
A shelf registration relating to the shares was originally filed with the Securities and Exchange Commission on May 6, 2009 and has since been declared effective. The offering will be made pursuant to a prospectus supplement to the prospectus contained in the shelf registration statement, which prospectus supplement will be filed with the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Copies of the prospectus supplement relating to the offering may be obtained, when available, by contacting Thomas Weisel Partners LLC by mail at One Montgomery Street, San Francisco, California 94104 or by telephone at (415) 364-2720.
Satcon Technology Corporation is a leading provider of utility scale distributed power solutions for the renewable energy market, enabling the industry’s most advanced reliable and proven clean energy alternatives. For over 23 years, Satcon has designed and delivered the next generation of efficient energy systems for solar photovoltaic, stationary fuel cells, wind-turbines, and energy storage systems. To learn more about Satcon, please visit www.Satcon.com.
Statements made in this press release that are not historical facts or which apply prospectively are forward-looking statements that involve risks and uncertainties. These forward-looking statements are identified by the use of terms and phrases such as "will," "intends," "believes," "expects," "plans," "anticipates" and similar expressions. Investors should not rely on forward looking statements because they are subject to a variety of risks and uncertainties and other factors that could cause actual results to differ materially from the company's expectation. Additional information concerning risk factors is contained from time to time in the company's SEC filings, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2009 and in the Company’s quarterly report on Form 10-Q for the fiscal quarter ended April 4, 2009 and other periodic reports filed with the SEC. Forward-looking statements contained in this press release speak only as of the date of this release. Subsequent events or circumstances occurring after such date may render these statements incomplete or out of date. The company expressly disclaims any obligation to update the information contained in this release.
Satcon Technology Corporation
Leah Gibson, 617-897-2400
Investor Relations Manager