Elk River, Minn. (Jul. 24, 1995) -- SolarAttic, Inc. announced today that it now plans to close escrow on its Initial Public Offering (IPO) of common stock Sept. 5, 1995. The Company projects it will have met its minimum offering amount of $750K.
SolarAttic's IPO will raise operating capital to ramp up marketing, sales & manufacturing operations. The Company is offering 1,500,000 shares minimum and 3,000,000 shares maximum of its common stock at 50¢ per share. SolarAttic's patented new energy technology focuses in four market areas: hot water heating; space heating; ventilation; and, pool heating. The Company's solar heating technology eliminates the need for roof mounted solar panels by using heat exchangers inside of the attic. The Company's new duct/ventilation technology collects all attic-based solar energy. It also allows the attic to be mechanically vented without having to use any roof vents. Eave vents and one gable exhaust vent are still required for ventilation purposes.
Ed Palmer, SolarAttic's president, said: "The company has had over 1,050 investor inquiries from over 46 states concerning its initial public offering. The Company has even had investors express interest from as far away as Japan and Australia. It is now obvious that the Company will meet its IPO minimum and that a good amount of public interest exists for the Company's common stock." For further information, contact James Kantorowicz at (612) 441-3440.
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