The US Solar Fund (USF) investment trust has launched a secondary fundraise in efforts to raise up to $105m over the next 12 months, with proceeds expected to reduce borrowing costs and fund two transactions targeted in its investment pipeline.
In a note to investors this morning (13 April), USF's board announced the launch of a 12-month placing programme, including an initial placing, offer for subscription and intermediaries offer of new ordinary shares. How renewable energy technology is changing the investment landscape New ordinary shares will be issued at $1 each, representing a discount of 4.3% to the closing mid- market share price of $1.045 as at 12 April 2021 and a premium of 3.1% to the 31 December 2020 NAV of $0.97. Shares issued pursuant to the initial issue will be entitled to receive the interim dividend fo...
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