Ameresco raising $110M in stock offering to pay off loans

Renewable energy company Ameresco, headquartered in Framingham, is using a public stock offering to raise $110 million in funds.

The public offering, at $44 per share, will consist of 2.5 million shares offered by Ameresco and 700,000 shares offered by certain selling stockholders, according to a release from the company, with an option for additional stock purchases by the underwriters. 

The gross proceeds from the sale, before deducting various commissions and discounts, is expected to be approximately $110 million, according to a release from Ameresco. The company will not receive any proceeds from the sale of the shares by the selling stockholders. 

The funds will be used to pay off loans as well as for general purposes including potential tack on acquisitions, working capital and capital expenditures, according to the company.

The offering was expected to close on March 9, although no announcement has been made of the closing of the offer.