---
title: "Skycorp Stock Rises On Nanjing Cesun Acquisition, $3M Private Placement"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285091679.md"
description: "Skycap Solar Group Ltd. shares rose significantly after announcing the acquisition of a 56% stake in Nanjing Cesun Power Co. for $20.19 million, increasing its ownership to 100%. The deal involves issuing 7,983,000 shares at $2.5290 each, valuing Nanjing Cesun at $36.06 million. Additionally, Skycorp secured a $3 million private placement with institutional investors, issuing 1,694,000 shares at $1.7703 each for corporate purposes. As a result, Skycorp's stock is up 67.71% at $4.80."
datetime: "2026-05-04T15:02:31.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285091679.md)
  - [en](https://longbridge.com/en/news/285091679.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285091679.md)
---

# Skycorp Stock Rises On Nanjing Cesun Acquisition, $3M Private Placement

**Skycap Solar Group Limited** (NASDAQ:PN) is trading higher Monday on continued strength after the company announced Friday that it will acquire the remaining 56% stake in **Nanjing Cesun Power Co., Ltd.** and a $3.0 million private placement.

-   Skycorp stock is showing exceptional strength. Why is PN stock up today?

## **Acquisition Details**

The company said it signed a Share Acquisition Agreement on April 30, 2026, to acquire the remaining 56% equity interest in Nanjing Cesun for approximately $20.19 million, bringing its total ownership to 100%. 

The consideration will be paid through the issuance of 7,983,000 newly issued ordinary shares at a price of $2.5290 per share. The transaction implies a total enterprise valuation of approximately $36.06 million for Nanjing Cesun. 

Skycorp said the acquisition will allow it to fully consolidate Nanjing Cesun's operations, which include server equipment sales, inverter production, photovoltaic power station operations and energy management systems. 

## **Private Placement**

The company also announced a $3.0 million private placement with three institutional investors through the issuance of 1,694,000 Class A ordinary shares at $1.7703 per share. 

Skycorp said the proceeds will be used for general corporate purposes, including working capital, business development and potential strategic transactions. 

The newly issued shares in the private placement are subject to a six-month lock-up period. 

**Read Also: S&P 500 Delivers Biggest Earnings Beat Since 2021: 3 Magnificent 7 Stocks Did The Heavy Lifting**

## Skycorp Shares Power Higher

**PN Price Action:** At the time of publication, Skycorp shares are trading 67.71% higher at $4.80, according to data from Benzinga Pro.

_This illustration was generated using artificial intelligence via Midjourney._

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