RIVERSIDE, CA, March 05, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – SolarMax Technology, Inc. ("SolarMax" or the "Company") (Nasdaq SMXT), an integrated solar energy company, announced today that the underwriters of its recently completed initial public offering ("IPO") of common stock have purchased 539,950 shares of common stock upon partial exercise of their option to purchase additional shares of common stock to cover over-allotments at the initial public offering price of $4.00 per share.
Including proceeds from the sale of the additional shares, the aggregate gross proceeds from the IPO were approximately $20 million, prior to deducting the underwriting discounts, commissions and offering expenses payable by the Company.
Kingswood, a division of Kingswood Capital Partners, LLC ("Kingswood"), acted 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 prior to registration or ...