While waiting for its 37 million share secondary offering to close, Evergreen Solar Inc. (NASDAQ: ESLR) will introduce a new branding campaign. The theme is “More Electricity, Less Impact.”

The shares are trading at $1.79 in the pre-market this morning. On the day Evergreen priced its offering, the shares were trading around $2.20. Since they priced the secondary offering at $1.80.

Over the last year we have seen shares trade in a range of $1.00 to $12.64, and those highs were long before these new shares were issued.

Perhaps a better slogan would be “More Shares, Less Value.”

Paul Ausick
May 27, 2009

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