Akeena Solar Announces $26.1 Million Private Placement

LOS GATOS, Calif.--Akeena Solar, Inc. (NASDAQ:AKNS), a leading designer and installer of solar power systems, announced it has entered into securities purchase agreements with certain accredited, institutional investors, to raise approximately $26.1 million through the issuance of 3,728,572 shares of common stock and warrants to purchase 745,716 shares of common stock. The warrants are exercisable beginning six months after the closing, with a term of 60 months and an exercise price of $10.08 per share, and are subject to certain anti-dilution provisions. Link. Chart.