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New York NY (SPX) Jun 21, 2007 Deli Solar, a substantial seller of hot water and space heating devices in the People's Republic of China ("PRC"), has announced that on June 14, 2007 it raised $2.75 million in a private placement from the sale of Series A Preferred Stock and Warrants with Barron Partners L.P. as the lead investor investing $2.55 million. The investors purchased an aggregate of (i) 1,774,194 shares of Series A Preferred Stock (ii) five year warrants to purchase 1,774,194 shares of Common Stock with an exercise price $1.90 per share, and (iii) five year warrants to purchase an additional 1,774,194 shares of Common Stock at an exercise price of $2.40 per share. Each share of Series A Preferred Stock is convertible into one share of Common Stock, subject to adjustment. Additional shares of Series A Preferred Stock (not to exceed 900,000) are required to be issued to the investors in the event that the Company fails to achieve certain income targets for the fiscal years ended December 31, 2007 and 2008. Deli Solar (USA), Inc. is a domestic holding company owning all the equity capital of Bazhou Deli Solar Energy Heating Co. Ltd. and Beijing Deli Solar Technology Development Co., Ltd., located in the People's Republic of China. It is a substantial seller of hot water and space heating devices to customers in the PRC. Community Email This Article Comment On This Article Related Links Deli Solar All About Solar Energy at SolarDaily.com
VC Funds Drops Another Three Million Into Advent Solar
Waltham MA (SPX) Jun 20, 2007@Ventureshas made another $3.0 million investment in Advent Solar's recently-announced Series D financing round of more than $70 million. @Ventures was one of Advent Solar's first venture capital providers, investing in the company's Series B investment round in late 2004 and again in Advent Solar's Series C round in 2005.
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