SolarMax Technology, Announces Partial Exercise of Over-Allotment Option Following Successful IPO

SolarMax Technology, Inc., an integrated solar energy firm, has announced that the underwriters of its recent initial public offering (IPO) of common stock have exercised their option to purchase additional shares. This partial exercise involves 539,950 shares at the IPO price of $4.00 per share.

With the sale of these additional shares, the IPO has generated approximately $20 million in aggregate gross proceeds, before deducting underwriting discounts, commissions, and offering expenses.

Kingswood, a division of Kingswood Capital Partners, LLC, served as the sole bookrunner for the offering.

The offering was conducted pursuant to a registration statement on Form S-1 (File No. 333-266206), which was declared effective by the U.S. Securities and Exchange Commission (SEC) on February 12, 2024. Interested parties can obtain a copy of the final prospectus from the SEC’s website or directly from Kingswood via email or standard mail.