StockTradersResource.Com: Solar EnerTech Corp (OTC BB: SOEN) Obtains Private $8.3 Million Investment
Posted on: Monday, 12 March 2007, 06:00 CDT
On March 7, 2007, Solar EnerTech Corp. (OTCBB: SOEN) declared the completion of private placement with Institutional Investors. Solar EnerTech is a photovoltaic solar energy cell manufacturing enterprise based in Shanghai, China. The $8.3 million financing was prompted by additional requirements for it's solar cell products. After expenses in wake of the financing, Solar EnerTech received net proceeds of roughly $7,664,000. SOEN intends to use these funds for general corporate purposes including the fulfillment of recent purchase orders and the purchase of equipment for the Company's second 25Mw production line.
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Other active stocks are La Jolla Pharmaceutical Company (NASDAQ: LJPC), Cytyc Corporation (NASDAQ: CYTC) and Cognos Incorporated (NASDAQ: COGN).
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