HomeEquities ScoreSizzling update triggered Sunworks, Inc. (SUNW) shares go high

Sizzling update triggered Sunworks, Inc. (SUNW) shares go high

Sunworks, Inc. (NASDAQ: SUNW) is a leading manufacturer of solar power systems for ‎superior efficiency. Sunworks is committed to providing world-class quality products that ‎exceed industry standards and adhere to honesty and safety principles.‎

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The company stock rose 21.03% to 7.020 in the pre-market after the Company revealed that ‎under the prospectus supplement filed on November 25, 2020, it had sold ‎approximately 3.8 million shares of common stock, raising roughly $20 million in ‎gross proceeds. Under its Loan Arrangement with CrowdOut Finance, Inc., the Firm uses a ‎part of the proceeds from selling its common stock to repay the existing loan of around $2.7 ‎million fully.‎

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‎”We have successfully strengthened our balance sheet, reduced expensive debt, and ‎enhanced our working capital position, better positioning us to address the COVID-related ‎challenges affecting our operations, our sector, and the economy as a whole,” said Chuck ‎Cargile, Chairman of the Board of Sunworks.‎

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