Satcon Plans To Sell $20.2M Million In Stock
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SATC
BOSTON (AP) — Satcon Technology Corp. said Tuesday it plans to offer $20.2 million in shares to the public.
The company, which makes power generation products for the alternative energy industry, said the underwriters of its offering will have the option to buy another $3 million of shares over the next month. Satcon shares closed at $2.11 in the regular session Tuesday, but fell 21 cents, or 10 percent, to $1.90 in after-hours trading after the announcement of the offering. Thomas Weisel Partners will be the managing underwriter of the offering, and Ardour Capital Investments will be co-managing underwriter.- Loading Comments...
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