Satcon Technology Announces $20,225,000 Public Offering Of Shares Of Common Stock

June 10, 2009 by Jeff Shepard

Satcon Technology Corp. announced that it intends to offer shares of its common stock in a $20,225,000 public offering pursuant to an effective shelf registration statement. The company expects to grant the underwriters a 30-day option from the date of the final prospectus supplement to purchase up to an additional $3,033,750 of its common stock. All of the shares of common stock will be offered by the company. Thomas Weisel Partners LLC managing underwriter and book runner and Ardour Capital Investments, LLC will act as co-managing underwriter.

A shelf registration relating to the shares was originally filed with the Securities and Exchange Commission on May 6, 2009 and has since been declared effective. The offering will be made pursuant to a prospectus supplement to the prospectus contained in the shelf registration statement, which prospectus supplement will be filed with the SEC.