Gaiam Announces Filing Form S1 for IPO of Its Solar Subsidiary
BROOMFIELD, Colo., Feb. 7 /PRNewswire-FirstCall/ -- Gaiam, Inc. (Nasdaq: GAIA) announced today that it has determined that an initial public offering of a minority interest in Gaiam's Real Goods Solar subsidiary (currently 100% owned) would optimize Real Goods Solar's potential and create additional value for Gaiam shareholders.
A registration statement has been filed with the Securities and Exchange Commission relating to a proposed initial public offering of shares of Real Goods Solar's Class A common stock. All shares to be sold in the offering will be offered by Real Goods Solar. ThinkEquity Partners LLC will be acting as the lead manager with Canaccord Adams Inc. and Broadpoint Capital, Inc. as co-managers. Real Goods Solar has reserved the Nasdaq ticker symbol "RSOL."
The offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus may be obtained from ThinkEquity Partners LLC.
A registration statement relating to Real Goods Solar securities has been filed with the Securities and Exchange Commission but has not yet become effective. Securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Real Goods Solar is a leading residential solar energy integrator. Giving effect to recent acquisitions, Real Goods Solar ranks number one in California, which currently represents approximately two-thirds of the total U.S. market for grid-connected solar energy systems. Real Goods Solar offers turnkey services, including the design, procurement, installation, grid connection, monitoring, and maintenance of solar energy systems. Real Goods Solar has 30 years of experience in residential solar energy, beginning with the sale in 1978 of the first solar photovoltaic, or PV, panels in the United States. Real Goods Solar's predecessors were acquired by Gaiam in 1999 and 2001.
Gaiam is a lifestyle media company providing information, media, products and services to customers who value personal development, wellness, ecological lifestyles, responsible media and conscious community.
For more information about Gaiam, please visit http://www.gaiam.com, or call 1-800-869-3603.
This press release includes forward-looking statements relating to matters that are not historical facts. Forward-looking statements may be identified by the use of words such as "expect," "believe," "will," "should" or comparable terminology or by discussions of strategy. While Gaiam believes its assumptions and expectations underlying forward-looking statements are reasonable, there can be no assurance that actual results will not be materially different. Risks and uncertainties that could cause materially different results include, among others, introduction of new products and services, completion and integration of acquisitions, the possibility of negative economic conditions, and other risks and uncertainties included in Gaiam's filings with the Securities and Exchange Commission. Gaiam assumes no duty to update any forward-looking statements.
Contact: John Mills Senior Managing Director Integrated Corporate Relations, Inc. 310-954-1105 email@example.com
SOURCE Gaiam, Inc.
Released February 7, 2008