ReneSola (SOL -8.6%) enters into securities purchase agreements with several institutional investors for the purchase and sale of 2.5M ADS.
Each ADS represents 10 ordinary shares, at a purchase price of $2 per ADS, in a registered direct offering.
Expected gross proceed of $5M.
Net proceeds to be used for expanding new solar project pipelines and general working capital needs.
Offering expected to close on or about September 25, 2020.