RIVERSIDE, CA, Feb. 29, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – SolarMax Technology, Inc. ("SolarMax" or the "Company") (NASDAQ:SMXT), an integrated solar energy company, today announced the closing of its initial public offering of 4,500,000 shares of common stock at an initial public offering price of $4.00 per share. Gross proceeds were $18 million, prior to deducting the underwriting discounts, commissions and offering expenses payable by the Company. In addition, SolarMax has granted the underwriters a 45-day option to purchase an additional 675,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions, to cover over-allotments. The common stock began trading on The Nasdaq Global Market on February 27, 2024 under the symbol SMXT.
Kingswood, a division of Kingswood Capital Partners, LLC ("Kingswood"), is acting as sole bookrunner for the offering.
A registration statement on Form S-1 (File No. 333-266206) relating to the offering has been filed with the U.S. Securities and Exchange Commission (the "SEC"), which was declared effective on February 12, 2024. The offering was made only by means of a prospectus. A copy of the final prospectus relating to the offering may be obtained on the SEC's website at www.sec.gov and from Kingswood, by email at lciervo@kingswoodus.com or by calling 561-961-0505 or standard mail at Kingswood Capital Partners, LLC, 7280 W Palmetto Park Rd., Suite 301, Boca Raton, FL 33433.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful ...