Real Goods Solar, Inc. Prices $20 Million Public Offering Of Units

LOUISVILLE, Colo., Nov. 15, 2013 (GLOBE NEWSWIRE) -- Real Goods Solar, Inc. (Nasdaq:RSOL), a nationwide leader of turnkey solar energy solutions for residential, commercial, and utility customers, today announced the sale of 5,900,000 units consisting of shares of its class A common stock and class A common stock warrants in an underwritten public offering at a price of $3.40 per unit. The net offering proceeds to Real Goods Solar from the sale of the units are expected to be approximately $18.4 million, after deducting underwriting discounts and commissions and other estimated offering expenses.

Real Goods Solar anticipates using the net proceeds from this offering for general corporate purposes including investments in greater sales and project origination capabilities and potential use of funds for appropriate acquisitions.

The offering is expected to close on or about November 20, 2013, subject to customary closing conditions.

Cowen and Company, LLC acted as the sole book-running manager of the offering. 

The class A common stock and warrants described above were offered by Real Goods Solar pursuant to a shelf registration statement on Form S-3 (No. 333-190050) including a base prospectus, previously filed and declared effective by the Securities and Exchange Commission (SEC). A final prospectus supplement related to the offering is expected to be filed with the SEC on November 15, 2013 and will available on the SEC's website located at www.sec.gov . Electronic copies of the final prospectus supplement also may be obtained from Cowen and Company, LLC (c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, Phone: 631-274-2806, Fax: 631-254-7140).  

The warrants described above will be exercisable upon the one year anniversary of the issuance. The shares of common stock issuable upon exercise of the warrants, or warrant shares, are not registered under a registration statement or the prospectus supplement. Real Goods Solar has agreed to file a registration statement covering the issuance of the warrant shares prior to the time the warrants become exercisable.

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