ReneSola announced it has closed previously announced $70 million securities offering. The net proceeds from this offering will be used for polysilicon production optimization and as working capital for general corporate purposes.
The proceeds will provide ReneSola with important working capital to continue grow its worldwide business. It will also be used for the optimization of ReneSola’s polysilicon plant, which will help the company strengthen its supply source and control the raw material cost.
The securities were offered by ReneSola pursuant to a shelf registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission.
picture source: demage.com