RGS closes $7 million private-equity offering

LOUISVILLE – RGS Energy (Nasdaq: RGSE) said it has closed a previously announced $7 million private-equity offering.

The Louisville-based solar provider, officially Real Goods Solar Inc., will net about $6.4 million in proceeds from the offering after placement agent fees and offering expenses are paid.

RGS plans to use the money to support the launch of its residential leasing platform and for general working capital purposes.

“Coupled with our strong nationwide footprint, including our recent acquisition in Hawaii, our internal leasing solution will allow us to better serve and grow our customer base,” RGS’ chief executive Kam Mofid said in a press release.

RGS in March acquired Hawaii-based Sunetric, expanding its footprint to the state where the nation’s highest electricity rates make solar power particularly attractive.

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