China-Solar

Deli Solar

Business Description

Deli Solar (n/k/a China Solar) designs and provides integrated renewable energy solutions for industrial clients and real estate developers in China and internationally.

Background

The Company required growth capital but was averse to issuing shares at its current share price. A structured PIPE deal was required to attract investors as well as protect the Company from excessive dilution.

Solution

A principal of Carter Morse & Mathias acted as the exclusive placement agent for Deli Solar’s PIPE, negotiating and placing the securities with institutional investors. In keeping with the Company’s desire to minimize dilution, a tiered offering was struck whereby the Company issued (i) shares at a slight discount to market for $2.75 million in proceeds and (ii) two sets of warrants with increasing strike prices that could raise up to an additional $7.6 million.

 

Featured Transactions

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Press Releases

Parts Town acquires North American Commercial Parts and Service

June 2015

Carter Morse & Mathias ("CMM") is pleased to announce that North American Commercial Parts and Service, Inc. ("NACPS"), headquartered in Windsor, Connecticut, was acquired by Parts Town, headquartered in Addison, Illinois and backed by the private equity firm Summit Partners. Carter Morse & Mathias served as NACPS's exclusive financial advisor for the transaction, which closed on June 1, 2015. Terms of the transaction were not disclosed.

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Ward Leonard Acquires Houma Armature Works

May 2015

Carter Morse & Mathias ("CMM") is pleased to announce that its long-standing client, Ward Leonard CT LLC ("Ward Leonard"), based in Thomaston, Connecticut, has acquired Houma Armature Works, based in Houma, Louisiana, a maintenance, repair and overhaul (MRO) company specializing in motor and generator systems. Carter Morse & Mathias served as Ward Leonard’s exclusive financial advisor for the transaction, which closed on April 23, 2015. Terms of the transaction were not disclosed.

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Intertape Polymer Group Acquires Better Packages Inc.

April 2015

Carter Morse & Mathias ("CMM") is pleased to announce that its client, Better Packages Inc. ("Better Packages" or "BPI"), based in Ansonia, Connecticut, was sold to a subsidiary of Intertape Polymer Group (TSX: ITP), a leading manufacturer of packaging products and machinery. Carter Morse & Mathias served as BPI's exclusive financial advisor for the transaction, which closed on April 7, 2015.

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