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