"The process of moving Principal Solar to the next level – both as a growth company and as a publicly traded security – is significantly enhanced by this new AGS facility," says Michael Gorton, chief executive officer and chairman of PSI. We are executing on our business model and expect to capitalize on the growing market confidence in solar energy.
AGS Chief Investment Officer Allen Silberstein explains, "We are very excited to be a part of augmenting Principal Solars growth, and this facility will provide an ability to quickly raise growth capital at a competitive cost. Given Principal Solars tremendous growth potential and positioning within the marketplace, the facility should allow Principal Solar to fully realize its strategic plans and significantly drive growth."
Cerulean Advisors LLC, an investment banking and advisory firm focused on emerging public and private companies, acted as investment banker to PSI and advised the Company in this transaction. With offices in New York City and London, Cerulean Advisors offers capital markets, financial and strategic guidance to senior management teams and their Boards of Directors. All securities transactions are conducted through Aria Capital Advisors, LLC, a registered Broker/Dealer and Member of FINRA/SIPC.
Andrew Sadosky, managing principal of Cerulean Advisors, states, We believe this facility provides the Company with the flexibility to use additional capital to grow its business. Principal Solar has a clearly differentiated strategy combined with a very strong management team which positions the Company for significant growth.
