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.


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.


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

  • Leggett Platt Pegasus
  • RGS Tombstone for Website
  • CEW for Website
  • NACPS Tombstone - Website
  • WL Tombstone - Website


  • BP-IPG Tombstone for Website 
  • Tantor Tombstone - Web Site
  • MA Magazine Award - 2014 Tombstone v2
  • Rostra Tombstone Press Release -no border
  • ACGNY Champion 2014

    LBO of the Year

    up to $50 million

  • Spire DLX Tombstone


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Press Releases

Excent Corporation has been acquired by Frontline Education

September 2016

Carter Morse & Mathias ("CMM") is pleased to announce that Excent Corporation, a provider of data management software solutions designed for special education and student intervention management, has been acquired by Frontline Education, the nation’s leading education software company backed by Insight Venture Partners ("Frontline").

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Carter Morse & Mathias Announced as Finalist For the 15th Annual M&A Advisor Awards

August 2016

The M&A Advisor is pleased to announce finalists of the 15th Annual M&A Advisor Awards. The Acquisition of Really Good Stuff by Excelligence, backed by Brentwood Associates was named a finalist in the Consumer Discretionary, Corporate & Strategic Acquisition & M&A Deal of the Year categories.

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2016 Mid Year Review

July 2016

We would like to share with you a few updates at Carter Morse & Mathias, and celebrate some of our notable achievements for the first six months of 2016. It has been a strong first half for CMM, as measured by the number of closed transactions, the valuations achieved for our clients, the recognitions we have received and our continued involvement in our communities.

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