Energy Business

Akeena Dips on Possible Capital Raise (AKNS)

Money_stack_pic_3Akeena Solar, Inc. (NASDAQ: AKNS) is trading lower today after the company filed to sell up to $30 million in a mixed securities shelf offering.  No terms were listed, but the company listed that it would be able to sell any combination of common stock, preferred stock, debt securities, warrants, and units.

The company listed the use of proceeds as being for general corporatepurposes.  This may include the repayment or refinancing ofindebtedness or the acquisition of complementary products orbusinesses. 

No underwriters were listed.  Akeena shares are down over 8% at $2.06today, and the stock’s 52-week trading range is $1.50 to $14.15 and itsmarket cap is currently $60 million.

Jon C. Ogg
January 7, 2009

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