SUNW - Sunworks plunges on $3.3M stock offering
2023-08-09 08:20:16 ET
Sunworks ( NASDAQ: SUNW ) -15.2% pre-market Wednesday after announcing an agreement with a single institutional investor for the purchase and sale of 3.3M common shares at $1.00/share in a registered direct offering.
The company said it plans to use the net proceeds from the offering for working capital and other general corporate purposes.
Roth Capital is acting as the exclusive placement agent for the offering.
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Sunworks plunges on $3.3M stock offering