Solar EnerTech Completes a $8.3 Million Dollar Private Placement with Investors
Before the bell today, Solar Enertech announced the additional financing. The company plans to use the net proceeds for working capital, general corporate purposes and the purchase of silicon feedstock. The purchase of the silicon will fulfill recent purchase orders. Another use for the proceeds will include the purchase of equipment for Solar EnerTech’s second 25Mw production line. The additional financing was needed because of the increased demand for the Company’s products. The company is already ahead of schedule in the construction of the second 25Mw line that was originally scheduled for mid-April. The Company is currently running two shifts,…