Principal Solar Inc. (OTCMKTS:PSWW) Stock Gains Momentum: Soars 14%
Principal Solar Inc. (OTCMKTS:PSWW) was up 14% after the strategic investor in companies and technologies supporting next-gen opportunities in renewable, clean energy, and conventional energy sectors announced the closing of Regulation A Plus financing offering.
Market Stats
On Friday, PSWW stock soared 13.60% to $0.0694 with more than 13.56 million shares, compared to its average volume of 2.77 million shares. The stock moved within a range of $0.0575 – 0.0760 after opening trading at $0.0645.
Principal Solar Announces Successful Completion of Regulation A Plus Equity Offering
The offering started on November 25, 2020, and closed on February 16, 2022, with the company raising gross proceeds of $8.65 million via the sale of around 96.6 million common stock shares at $0.0895 per share. The company will use proceed of the offering in paying outstanding debts and convertible notes and investing in or purchasing gas and oil leases, gas and oil extraction tech, operating firms with revenues, and EV technologies.
CEO and Principal chairman of the company K. Bryce “Rick” Toussaint said that the success of the Regulation A Plus Offering is a validation of their business model and evidence that investors can expect considerable upside potential in financing practical, short-term solutions to the transition energy issues. So investors should watch PSWW in the coming weeks.
Key Quote
“We view the success of our Regulation A Plus Offering as further validation of Principal’s business model and proof positive that investors see real upside potential in funding practical, near-term solutions to today’s transitional energy challenges,” said K. Bryce “Rick” Toussaint, CPA, MBA, Principal’s Chairman and CEO. “On a personal note, I’d like to extend a warm welcome to the new Principal stakeholders that participated in the Offering. We have big plans for the Company’s future, and I’m glad you’ve taken the opportunity to join us.”
Traders Corner
PSWW stock is trading above the 20-Day and 50-Day Moving averages of $0.0280 and $0.0220 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0578.
