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Satcon Technology Announces Closing of Public Offering of Common Stock

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  Published in Science and Technology on Wednesday, October 27th 2010 at 14:07 GMT by Market Wire
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BOSTON--([ BUSINESS WIRE ])--Satcon Technology Corporation (aSatcona) (Nasdaq: SATC) today announced the completion of its public offering of 10,350,000 shares of its common stock, including 1,350,000 shares issued pursuant to the exercise in full of the underwritera™s overallotment option, at a price to the public of $3.90 per share. The net proceeds to Satcon from the sale of the shares, after deducting underwriting discounts and commissions and estimated offering expenses, were approximately $37.5 million.

Jefferies & Company, Inc. acted as the sole book-running manager for the offering.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of the shares under the securities laws of any such state or jurisdiction.

A registration statement relating to the securities described above has become effective by order or rule of the Securities and Exchange Commission (aSECa). A prospectus supplement relating to the offering has been filed with the SEC and is available on the SECa™s website located at [ www.sec.gov ]. Copies of the final prospectus supplement relating to these securities may be obtained from Equity Syndicate Prospectus Department, Jefferies & Company, 520 Madison Avenue, 12th Floor, New York, NY, 10022, at 877-547-6340 and at [ Prospectus_Department@Jefferies.com ].

About Satcon

Satcon Technology Corporation is a provider of utility-grade power conversion solutions for the renewable energy market.