Interactive Investor

US Solar Fund plc Share Offer

This offer is now closed for applications through interactive investor

Result of the Initial Issue

  • The issue price was set at $1.00 per New Ordinary Share
  • The Sterling equivalent issue price has been fixed at 72.0617 pence per share, based on the Relevant Sterling Exchange Rate of 1.38770
  • US Solar Fund plc has successfully raised gross proceeds of $132 million
  • Applications will be made to the London Stock Exchange for 132,000,000 New Ordinary Shares to be admitted to trading on the main market of the London Stock Exchange.
  • Allocations have been met in full, meaning customers will receive 100% of the amount they applied for, rounded down to the nearest share.
  • Share allocations and uninvested cash are being credited today (Friday 7 May 2021). Confirmation of allocations will be sent once the shares and refunds are showing on accounts
  • Please note the allocation policy was set by US Solar Fund plc and not Interactive Investor.

Offer period

  • The Offer Period for the US Solar Fund plc Share Offer closed at 11am on Wednesday 5 May 2021.

Trading starts

  • Admission and unconditional dealing in the New Ordinary Shares is expected to commence at 8am on Tuesday 11 May 2021. There is no conditional dealing period.
  • When admitted to trading, the New Ordinary Shares traded in Sterling will be registered with SEDOL (Stock Exchange Daily Official List) number BHZ6410 and trade under the symbol "USFP".
  • If you buy or sell US Solar Fund plc Shares after admission the relevant share dealing rate will apply.

Gill Nott , Chairman of US Solar Fund, said:

"We're delighted with this strong backing from individual and institutional investors for our first fundraise following US Solar Fund's IPO two years ago. We will put these funds to work immediately, reducing our Heelstone Portfolio financing costs along with the fund's total gearing, and deploying into our pipeline of attractive investment opportunities. Among other benefits, these transactions will increase dividend cover and be accretive to NAV.

"With President Biden recently announcing yet more ambitious carbon reduction targets, and extending Federal subsidy support, we believe the opportunity and need to invest in utility scale solar remain compelling and urgent. We would like to thank our new and existing investors for their support and look forward to updating them on further progress shortly."

Key information

Issue price per share:$1.00
Minimum investment:£1,000 (multiples of £1 thereafter)
Stock ticker:USFP
SEDOL:BHZ6410

Expected timetable

Offer open:13 April 2021
Offer close:5 May 2021 (11am)
Result announced:7 May 2021
Unconditional dealing starts:11 May 2021 (8am)

Offer announcements

This website is issued by, and is the sole responsibility of, Interactive Investor Services Limited. This website is an advertisement and not a Prospectus. Any application to participate in the Offer can and will only be made on the basis of the Prospectus, together with any supplements thereto.

Interactive Investor Services Limited uses the US Solar Fund plc Prospectus in accordance with the Company's consent and the conditions set out in the US Solar Fund plc Prospectus.

Investing in IPOs carries a high degree of risk. If you are unsure of the suitability of an investment please seek Financial Advice. You are not guaranteed to make a profit, the value of your investments can go down as well as up. You may not get back all the money you invest. Any notification of an IPO on our website is not an endorsement of the issue, nor is it solicitation for interest in the issue. Investment in the Company should not be regarded as short-term in nature. You should consider carefully all of the information set out in the Prospectus, including all the risks attached to investing in the Company before you apply.

"US Solar Fund plc" and the US Solar Fund plc logo are registered trademarks of US Solar Fund plc. Reproduced by kind permission of US Solar Fund plc. All rights reserved.

This announcement has been published by Interactive Investor Services Limited.

This announcement has been prepared and is the sole responsibility of Interactive Investor Services Limited of Exchange Court, Duncombe Street, Leeds, LS1 4AX, which is an authorised person for the purposes of the Financial Services and Markets Act 2000.