Satcon closes public offering of common stock

Included were 1,350,000 shares issued pursuant to the exercise in full of the underwriter’s overallotment option, at a price to the public of $3.90 per share.

The net proceeds to Satcon from the sale of the shares, after deducting underwriting discounts and commissions and estimated offering expenses, were said to be around $37.5 million.

Jefferies & Company, Inc. acted as the sole book-running manager for the offering.