Akeena Solar Raises $12.6 M to Meet Demand for Solar Power Systems

Los Gatos, California [RenewableEnergyAccess.com] Akeena Solar, Inc., designer and installer of solar power systems, has entered into definitive purchase agreements with investors to raise $12.6 million of gross proceeds in a private investment in public equity (PIPE) offering. The company intends to use the net proceeds from this financing for general corporate purposes including growth initiatives, capital expenditures, research and development, and working capital. Following this transaction, Akeena will have approximately 23 million shares of common stock and approximately 1.8 million warrants outstanding.
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