Skycorp Solar Stock Jumps After $20.2 Million Deal — The Dilution Question Investors Are Watching
Skycorp Solar shares surged 88.8% to $5.41 after announcing a stock-funded deal to buy the remaining 56% of Nanjing Cesun Power and a $3 million private share sale. Trading volume reached 46.9 million shares. The $20.2 million acquisition will be paid with 7.98 million new shares. Skycorp will own 100% of Nanjing Cesun after closing.