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.