Renewable energy company SolarBank Corporation (“Solarbank” or the “Company”) announced its entry into an equity distribution agreement (the “Agreement”) with investment advisor Research Capital Corporation. With a focus on grid-connected solar electricity generation plants, SolarBank’s portfolio spans the entire value chain from site origination, development, financing, EPC, O&M and asset management.
MLT Aikins was proud to act for the agent, Research Capital Corporation, in connection with the Agreement, which establishes an at-the-market equity program (the “ATM Program”). Under the Agreement, the Company may issue common shares of the Company with an aggregate offering amount of up to $15,000,000 from treasury under the ATM Program.
The Company intends to use any net proceeds raised under the ATM Program to further business objectives and general corporate purposes, including funding ongoing or working capital requirements, potential future acquisitions and more.
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