Baird served as the sole book-running manager on this offering.
AboutPowerSecure International, Inc. (“PowerSecure” or the “Company”) (NYSE: POWR) recently completed a follow-on offering of 2,500,000 shares of common stock at a price of $16.00 per share, generating gross proceeds of $40.0 million. 200,000 of the shares offered were sold by selling shareholders. The Company will not receive any proceeds from the shares sold by the selling shareholders. PowerSecure intends to use the net proceeds that it receives from the offering for general corporate purposes, including but not limited to working capital, capital expenditures and acquisitions.
PowerSecure is a leading provider of products and services to electric utilities and to their large commercial, institutional and industrial customers. The Company conducts its core operations through three product and service areas: Distributed Generation products and services, Utility Infrastructure products and services, and Energy Efficiency products. These three groups are commonly focused on serving the needs of utilities and their commercial, institutional and industrial customers to help them generate, deliver and utilize electricity more reliably and efficiently. The Company is headquartered in Wake Forest, North Carolina.
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- August 2013
- PowerSecure International, Inc.
- Target Geography
- North America
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