{"id":829125,"date":"2025-03-24T16:05:15","date_gmt":"2025-03-24T20:05:15","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-corporation-announces-closing-of-up-to-us19-million-equity-financing\/"},"modified":"2025-03-24T16:05:15","modified_gmt":"2025-03-24T20:05:15","slug":"solarbank-corporation-announces-closing-of-up-to-us19-million-equity-financing","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-corporation-announces-closing-of-up-to-us19-million-equity-financing\/","title":{"rendered":"SolarBank Corporation Announces Closing of up to US$19 Million Equity Financing"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"legendSpanClass\"><br \/>\n          <span class=\"xn-location\">TORONTO<\/span><br \/>\n        <\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">March 24, 2025<\/span><\/span> \/PRNewswire\/ &#8211; <b>SolarBank Corporation <\/b>(NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2)<b> (&#8220;SolarBank&#8221; or the &#8220;Company&#8221;)<\/b>, today announced it has closed its previously announced registered direct offering with a single institutional investor. The investor \u2014 a multi-billion dollar global investment fund backed by a bulge bracket investment bank and that has a large portfolio of energy investments \u2014 purchased 2,394,367 common shares and warrants to purchase up to 2,394,367 common shares at a combined purchase price of <span class=\"xn-money\">US$3.55<\/span> per common share and accompanying warrant for aggregate gross proceeds of approximately <span class=\"xn-money\">US$8.5 million<\/span> before deducting fees and other estimated offering expenses (the &#8220;Offering&#8221;). The warrants are exercisable immediately at an exercise price of <span class=\"xn-money\">US$4.45<\/span> per share and will expire five years from the date of issuance. Approximately <span class=\"xn-money\">$8.5 million<\/span> was funded in full upon the closing of the Offering, and up to an additional <span class=\"xn-money\">$10.65 million<\/span> may be funded upon full cash exercise of the warrants.\u00a0 No assurance can be given that any of the warrants will be exercised.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2648701\/SolarBank_Corporation_SolarBank_Corporation_Announces_Closing_of.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2648701\/SolarBank_Corporation_SolarBank_Corporation_Announces_Closing_of.jpg\" title=\"SolarBank Logo (CNW Group\/SolarBank Corporation)\" alt=\"SolarBank Logo (CNW Group\/SolarBank Corporation)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>The Company expects to use the net proceeds from the Offering to advance its independent power producer assets including battery energy storage system (BESS) projects and a community solar project in <span class=\"xn-location\">New York<\/span>, along with for working capital and other general corporate purposes.<\/p>\n<p>A.G.P.\/Alliance Global Partners acted as sole placement agent for the Offering.<\/p>\n<p>The Offering was made in <span class=\"xn-location\">the United States<\/span> only under the Company&#8217;s short form base shelf prospectus dated <span class=\"xn-chron\">May 2, 2023<\/span> (the &#8220;Base Shelf \u200eProspectus&#8221;), filed with the securities regulatory authorities in each of the provinces and \u200eterritories of <span class=\"xn-location\">Canada<\/span> , and the corresponding registration statement on Form F-10 (the \u200e\u200e&#8221;Registration Statement&#8221;) filed by the Company with the U.S. Securities and Exchange \u200eCommission (&#8220;SEC&#8221;) under the U.S.\/Canada Multijurisdictional Disclosure System (&#8220;MJDS&#8221;). \u200eThe Company has filed a prospectus supplement (the &#8220;Supplement&#8221;) to the Base Shelf Prospectus on a non-offering basis with applicable securities regulatory authorities in <span class=\"xn-location\">Canada<\/span>. The Supplement was also filed with the SEC as part of the Company&#8217;s Registration Statement under the MJDS. Copies of the Supplement and the Base Shelf Prospectus are available on SEDAR at <a href=\"http:\/\/www.sedar.com\" rel=\"nofollow\">www.sedar.com<\/a> and copies of the Supplement and the Registration Statement will be available on EDGAR at <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4390040-1&amp;h=2666559500&amp;u=http%3A%2F%2Fwww.sec.gov%2F&amp;a=www.sec.gov\" target=\"_blank\" rel=\"nofollow\">www.sec.gov<\/a>.<\/p>\n<p>Copies of the Supplement, the Base Shelf Prospectus and the Registration Statement may also be obtained from A.G.P.\/Alliance Global Partners, 590 Madison Avenue, 28th Floor, <span class=\"xn-location\">New York, NY<\/span> 10022 or via telephone at 212-624-2060 or email: <a href=\"mailto:prospectus@allianceg.com\" target=\"_blank\" rel=\"nofollow\">prospectus@allianceg.com<\/a>.<\/p>\n<p>This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.<\/p>\n<p>\n        <b>About SolarBank Corporation<\/b>\n      <\/p>\n<p>SolarBank Corporation is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in <span class=\"xn-location\">Canada<\/span> and the <span class=\"xn-location\">USA<\/span>. The Company develops solar, Battery Energy Storage System (BESS) and EV Charging projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. The Company maximizes returns via a diverse portfolio of projects across multiple leading <span class=\"xn-location\">North America<\/span> markets including projects with utilities, host off-takers, community solar, and virtual net metering projects. The Company has a potential development pipeline of over one gigawatt and has developed renewable and clean energy projects with a combined capacity of over 100 megawatts built. To learn more about SolarBank, please visit <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4390040-1&amp;h=3431650225&amp;u=http%3A%2F%2Fwww.solarbankcorp.com%2F&amp;a=www.solarbankcorp.com\" target=\"_blank\" rel=\"nofollow\">www.solarbankcorp.com<\/a>.<\/p>\n<p>\n        <b>Forward Looking Statements<\/b>\n      <\/p>\n<p>Statements in this press release that are not statements of historical or current fact constitute &#8220;forward-looking statements&#8221; within the meaning of the U.S. securities laws and Canadian securities laws. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of SolarBank to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms &#8220;believes&#8221;, &#8220;belief&#8221;, &#8220;expects&#8221;, &#8220;intends&#8221;, &#8220;projects&#8221;, &#8220;anticipates&#8221;, &#8220;will&#8221;, &#8220;should&#8221; or &#8220;plans&#8221; to be uncertain and forward-looking. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement and the &#8220;Cautionary Note Regarding Forward-Looking Information&#8221; section contained in SolarBank&#8217;s latest Annual Information Form (the &#8220;AIF&#8221;), which also forms part of SolarBank&#8217;s latest annual report on Form 40-F, and which is available on SEDAR+ at\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4390040-1&amp;h=729349008&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D2955822-1%26h%3D1290584699%26u%3Dhttp%253A%252F%252Fwww.sedar.com%252F%26a%3Dwww.sedar.com&amp;a=www.sedarplus.ca\" target=\"_blank\" rel=\"nofollow\">www.sedarplus.ca<\/a>, on EDGAR at\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4390040-1&amp;h=2732424474&amp;u=https%3A%2F%2Fwww.sec.gov%2Fedgar.shtml&amp;a=www.sec.gov%2Fedgar.shtml\" target=\"_blank\" rel=\"nofollow\">www.sec.gov\/edgar.shtml<\/a>\u00a0and on the investor section of SolarBank&#8217;s website at\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4390040-1&amp;h=1137401077&amp;u=https%3A%2F%2Fsolarbankcorp.com%2Finvestors%2F&amp;a=www.SolarBankcorp.com\" target=\"_blank\" rel=\"nofollow\">www.SolarBankcorp.com<\/a>. All forward-looking statements in this press release are made as of the date of this press release. SolarBank does not undertake to update any such forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. The forward-looking statements contained herein include, without limitation, statements about the anticipated use of proceeds of the Offering; the exercise of the warrants prior to their expiration \u00a0and other risks and uncertainties that are described from time to time in SolarBank&#8217;s public securities filings with the Securities and Exchange Commission and the Canadian securities commissions. Additional information about these assumptions and risks and uncertainties is contained in the AIF under &#8220;Risk Factors&#8221;.<\/p>\n<p>SolarBank undertakes no obligation to update or revise any \u200eforward-looking statements, whether as a result of new information, future events or \u200eotherwise, except as may be required by law. New factors emerge from time to time, and it \u200eis not possible for the Company to predict all of them, or assess the impact of each such \u200efactor or the extent to which any factor, or combination of factors, may cause results to \u200ediffer materially from those contained in any forward-looking statement. Any forward-\u200elooking statements contained in this news release are expressly qualified in their entirety by \u200ethis cautionary statement.\u200e<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=TO48504&amp;sd=2025-03-24\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/solarbank-corporation-announces-closing-of-up-to-us19-million-equity-financing-302409635.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/solarbank-corporation-announces-closing-of-up-to-us19-million-equity-financing-302409635.html<\/a><\/p>\n<p>SOURCE  SolarBank Corporation<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=TO48504&amp;Transmission_Id=202503241600PR_NEWS_USPR_____TO48504&amp;DateId=20250324\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire TORONTO , March 24, 2025 \/PRNewswire\/ &#8211; SolarBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) (&#8220;SolarBank&#8221; or the &#8220;Company&#8221;), today announced it has closed its previously announced registered direct offering with a single institutional investor. The investor \u2014 a multi-billion dollar global investment fund backed by a bulge bracket investment bank and that has a large portfolio of energy investments \u2014 purchased 2,394,367 common shares and warrants to purchase up to 2,394,367 common shares at a combined purchase price of US$3.55 per common share and accompanying warrant for aggregate gross proceeds of approximately US$8.5 million before deducting fees and other estimated offering expenses (the &#8220;Offering&#8221;). The warrants are exercisable immediately at an exercise price of US$4.45 per &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-corporation-announces-closing-of-up-to-us19-million-equity-financing\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SolarBank Corporation Announces Closing of up to US$19 Million Equity Financing&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-829125","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SolarBank Corporation Announces Closing of up to US$19 Million Equity Financing - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-corporation-announces-closing-of-up-to-us19-million-equity-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SolarBank Corporation Announces Closing of up to US$19 Million Equity Financing - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire TORONTO , March 24, 2025 \/PRNewswire\/ &#8211; SolarBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) (&#8220;SolarBank&#8221; or the &#8220;Company&#8221;), today announced it has closed its previously announced registered direct offering with a single institutional investor. The investor \u2014 a multi-billion dollar global investment fund backed by a bulge bracket investment bank and that has a large portfolio of energy investments \u2014 purchased 2,394,367 common shares and warrants to purchase up to 2,394,367 common shares at a combined purchase price of US$3.55 per common share and accompanying warrant for aggregate gross proceeds of approximately US$8.5 million before deducting fees and other estimated offering expenses (the &#8220;Offering&#8221;). 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-corporation-announces-closing-of-up-to-us19-million-equity-financing\/","og_locale":"en_US","og_type":"article","og_title":"SolarBank Corporation Announces Closing of up to US$19 Million Equity Financing - Market Newsdesk","og_description":"PR Newswire TORONTO , March 24, 2025 \/PRNewswire\/ &#8211; SolarBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) (&#8220;SolarBank&#8221; or the &#8220;Company&#8221;), today announced it has closed its previously announced registered direct offering with a single institutional investor. The investor \u2014 a multi-billion dollar global investment fund backed by a bulge bracket investment bank and that has a large portfolio of energy investments \u2014 purchased 2,394,367 common shares and warrants to purchase up to 2,394,367 common shares at a combined purchase price of US$3.55 per common share and accompanying warrant for aggregate gross proceeds of approximately US$8.5 million before deducting fees and other estimated offering expenses (the &#8220;Offering&#8221;). The warrants are exercisable immediately at an exercise price of US$4.45 per &hellip; Continue reading \"SolarBank Corporation Announces Closing of up to US$19 Million Equity Financing\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-corporation-announces-closing-of-up-to-us19-million-equity-financing\/","og_site_name":"Market Newsdesk","article_published_time":"2025-03-24T20:05:15+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/2648701\/SolarBank_Corporation_SolarBank_Corporation_Announces_Closing_of.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-corporation-announces-closing-of-up-to-us19-million-equity-financing\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-corporation-announces-closing-of-up-to-us19-million-equity-financing\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"SolarBank Corporation Announces Closing of up to US$19 Million Equity Financing","datePublished":"2025-03-24T20:05:15+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-corporation-announces-closing-of-up-to-us19-million-equity-financing\/"},"wordCount":1034,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-corporation-announces-closing-of-up-to-us19-million-equity-financing\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/2648701\/SolarBank_Corporation_SolarBank_Corporation_Announces_Closing_of.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-corporation-announces-closing-of-up-to-us19-million-equity-financing\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-corporation-announces-closing-of-up-to-us19-million-equity-financing\/","name":"SolarBank Corporation Announces Closing of up to US$19 Million Equity Financing - 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