Perovskite solar cell

Dyesol sells over $7 million in stock

Dyesol sells over $7 million in stockDyesol, the Australia-based Perovskite Solar Cell (PSC) technology developer, aims to raise up to AUD 10 million (USD 7.25 million/EUR 6.8 million) by selling shares to shareholders and investors.

A share purchase plan (SPP) opened on November 19, allowing existing shareholders from Australia or New Zealand to subscribe to new shares priced at AUD 0.26 a piece. The SPP targets AUD 6 million in proceeds, to support Dyesol鈥檚 Technology Development and Business Activity plans and working capital. The SPP is expected to close on December 4.

At the same time, the company is planning to attract selected financial institutions to subscribe for up to AUD 4 million in stock on similar terms. The price per share of AUD 0.26 represents a 19% discount to the volume weighted average price (VWAP) of Dyesol鈥檚 shares on the Australian Securities Exchange for the 5 trading days immediately prior to November 19.

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