Skycorp Solar Raises $3.6M at $2.1365 Per Share, Total PIPE Hits $6.6M
Skycorp Solar Group issued 1,685,000 Class A shares at $2.1365 each to raise $3.6 million, marking a 30.19% discount to its 15-day average closing price. Combined with a $3.0 million private placement on May 1, total funding now stands at $6.6 million, boosting shares outstanding to 13,900,025.
1. Details of Second PIPE Financing
On May 6, 2026, Skycorp Solar issued 1,685,000 Class A Ordinary Shares at $2.1365 each to raise $3.6 million. The issuance price reflects a 30.19% discount to the 15-day arithmetic average closing price of $3.0603 on the Nasdaq Capital Market.
2. Institutional Investor Participation
Four unaffiliated institutional investors subscribed to this second round, including three repeat investors—Hoping Group Limited, Matrix Sea Limited and Hoping AI Machine Pte Ltd—and a new investor, Helios Tech Limited, which acquired 1,295,500 shares for $2,767,834.
3. Lock-up and Share Count
All newly issued shares are subject to a six-month lock-up prohibiting sales, transfers, pledges or hedges without prior written consent. Upon completion of both private placement rounds, total outstanding Class A Ordinary Shares will increase to 13,900,025.
4. Use of Proceeds and Wind Farm Project
Net proceeds are earmarked for general corporate purposes, including working capital, business development and strategic transactions, as well as exploration and feasibility work for a proposed 200 MW wind farm project in Chengde, Hebei Province.