Principal Solar Receives $15,000,000 Reserve Equity Financing from AGS Capital Group
December 13 2011 - 2:29PM
Business Wire
Principal Solar, Inc (PSI; OTC Pink: PSWW), a publicly
traded renewable energy holding company which concentrates its
resources on rapidly advancing the inevitable, worldwide
utilization of solar energy through a unique roll-up strategy,
announced today it has entered into a definitive agreement with AGS
Capital Group, LLC, a New York headquartered investment fund, to
provide investment capital of up to $15,000,000 through a Reserve
Equity Financing.
"The process of moving Principal Solar to the next level -- both
as a growth company and as a publicly traded security -- is
significantly enhanced by this new AGS facility," says Michael
Gorton, chief executive officer and chairman of PSI. “We are
executing on our business model and expect to capitalize on the
growing market confidence in solar energy.”
AGS Chief Investment Officer Allen Silberstein explains, "We are
very excited to be a part of augmenting Principal Solar’s growth,
and this facility will provide an ability to quickly raise growth
capital at a competitive cost. Given Principal Solar’s tremendous
growth potential and positioning within the marketplace, the
facility should allow Principal Solar to fully realize its
strategic plans and significantly drive growth."
Cerulean Advisors LLC, an investment banking and advisory firm
focused on emerging public and private companies, acted as
investment banker to PSI and advised the Company in this
transaction. With offices in New York City and London, Cerulean
Advisors offers capital markets, financial and strategic guidance
to senior management teams and their Boards of Directors. All
securities transactions are conducted through Aria Capital
Advisors, LLC, a registered Broker/Dealer and Member of
FINRA/SIPC.
Andrew Sadosky, managing principal of Cerulean Advisors, states,
“We believe this facility provides the Company with the flexibility
to use additional capital to grow its business. Principal Solar has
a clearly differentiated strategy combined with a very strong
management team which positions the Company for significant
growth.”
About Principal Solar
Principal Solar, Inc (PSI; OTC Pink: PSWW) is a publicly traded
renewable energy holding company which concentrates its resources
on the acquisition, finance, development, and management of
solar power companies to rapidly advance the inevitable utilization
of solar power. The company is building the world’s first
online library dedicated exclusively to the field of solar energy –
a 24-hour gateway to current information, perspectives and
thought-leadership: www.definitivesolarlibrary.com. Visit
www.PrincipalSolar.com.
Cautionary Statement Regarding Forward-Looking
Statements
Statements in this press release that are not statements of
historical or current fact constitute "forward-looking statements."
Such forward-looking statements involve known and unknown risks,
uncertainties and other unknown factors in the solar energy
generating industry (market risk, government regulation,
operational risks, etc.) that could cause the Company's actual
operating results to be materially different from any historical
results or from any future results expressed or implied by such
forward-looking statements. In addition to statements that
explicitly describe these risks and uncertainties, readers are
urged to consider statements that contain terms such as "believes,"
"belief," "expects," "expect," "intends," "intend," "anticipate,"
"anticipates," "plans," "plan," to be uncertain and
forward-looking. The Company does not assume a duty to update these
forward-looking statements, except as required by law.
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