May 24, 2007
Evergreen announces cost of offering
By Matthew L. Brown
Evergreen Solar Inc. of Marlborough said its common stock would sell for $8.25 per share during its public offering scheduled for May 30.
The company is offering 15 million shares, and expects to make $117.37 million after paying for commissions and other expenses.
The company plans to use the money to expand its manufacturing capabilities, secure a supply of raw materials, including silicon, and for general corporate purposes.
Evergreen recently announced that it would double the size of its Marlborough facility and its workforce.
The company makes solar power products using low-cost manufacturing technology.
For the first quarter, the company reported a net loss of $8.1 million on revenue of $11.5 million.
The company is offering 15 million shares, and expects to make $117.37 million after paying for commissions and other expenses.
The company plans to use the money to expand its manufacturing capabilities, secure a supply of raw materials, including silicon, and for general corporate purposes.
Evergreen recently announced that it would double the size of its Marlborough facility and its workforce.
The company makes solar power products using low-cost manufacturing technology.
For the first quarter, the company reported a net loss of $8.1 million on revenue of $11.5 million.
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