M&A - SolarBank Corp

Form Type: SUPPL

Filing Date: 2025-03-21

Corporate Action: Acquisition

Type: New

Accession Number: 000164117225000131

Filing Summary: On March 20, 2025, SolarBank Corporation announced the public offering of 2,394,367 units at a price of US$3.55 each, raising a total of US$8,500,000. Each unit consists of one common share and one warrant for a common share, with the warrant exercise price set at US$4.45 for five years from issuance. The offering is facilitated through A.G.P./Alliance Global Partners as the exclusive placement agent under a placement agency agreement dated the same day. The common shares are listed on both Cboe Canada and Nasdaq, with recent closing prices recorded at $6.35 and US$4.43, respectively. The offering is strictly limited to the U.S. market, and no shares are being offered in Canada. The acquisition of Solar-Flow Through Funds Ltd. has been noted as a significant factor impacting the company's financial projections and operations, given the factors associated with integrating the SFF business into SolarBank's framework. Forward-looking statements express the management's expectations regarding future performance and the anticipated effect of the acquisition on their operations and financial results, while acknowledging various risk factors that may impede expected outcomes.

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