Real Goods Solar, Inc. has filed to come public via an initial public offering. For filing purposes the company has a proposed maximum offering set at $57.5 million. It will have the proposed NASDAQ ticker of "RSOL."
The lead underwriter is ThinkEquity and additional managers in the deal at Canaccord Adams and Broadpoint.
Real Goods Solar is a residential solar energy integrator. It is ranked number one in California, which is nearly two-thirds of the total U.S. market for grid-connected solar energy systems. Services offered are design, procurement, installation, grid connection, monitoring, maintenance and referrals for third-party financing of solar energy systems. Its first sale was in 1978 of the first solar photovoltaic panels in the United States, and it has sold more than 2,400 residential and small commercial solar energy systems and some 30,000 various customer products.
For fiscal 2007 the company generated net revenues of $32.7 million, with a 30.0% gross margin and $1 million of income from operations. It sells PV modules from Sharp, SunPower (NASDAQ: SPWR) and Kyocera Solar.
- SunPower’s guidance nailed solar stocks initially
- Lazard Capital defended SunPower after that…
Jon C. Ogg
February 7, 2008
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