Elk River, Minn. (August 17, 1994) -- SolarAttic, Inc., a development-stage company, announced today that it filed a registration statement with the Securities and Exchange Commission for the initial public offering of 1.5 million shares minimum and 3.0 million shares maximum of the company's common stock priced at fifty cents ($.50) per share.*
Proceeds from the initial public offering are to be used primarily to fund marketing programs and expand engineering and manufacturing capabilities. The offering, which is expected approximately September 1, 1994, will be made directly from the issuer, and only by means of a prospectus.
SolarAttic, Inc., manufactures proprietary and patented solar heating devices that use the solar energy contained in hot attic air. The company's systems are used to heat residential swimming pools and provide auxiliary heat for homes. A domestic hot water system is under development and expected to be released in 1995.
Based in Elk River, Minn., SolarAttic has been in business for eight years. Its pool heating systems are already serving customers in 22 states. Ed Palmer is the company's President and CEO.
*A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
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