Tuesday, Solar Power Inc. (SOPW, SOPW.OB) said it entered into a definitive agreement for an additional $2 million with one additional accredited investor who was unable to participate in the first closing of its prior announced private placement. This additional investment brings the aggregate gross proceeds to about $14,000,000 from the sale of about 14 million common shares before payment of placement agent commissions and offering expenses.
The company plans to use the net proceeds from this financing for general corporate purposes, including working capital. Stephen Kircher, chief executive of Solar Power stated, "This second closing concludes this placement round and will allow us to continue to capitalize on our pipeline of opportunities and business growth."
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