Business
$13.68 Million USD Successfully Raised by PowerBank in At-The-Market Equity Offering
PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) ("PowerBank" or the "Company"), a leader in North American energy infrastructure development and asset ownership, is pleased to announce that is has raised gross proceeds of $13.68 million USD through the offering of common shares ("Shares") under its previously announced "at the market" ("ATM") offering program pursuant to a prospectus supplement dated June 5, 2025 to its short form base shelf prospectus dated May 7, 2025.
About this update from Powerbank Corporation
[{"type":"text","content":"PowerBank Strengthens Balance Sheet with Additional Liquidity to Support Development Pipeline and Growth as Independent Power Producer","length":134,"tagName":"p","attribs":{}},{"type":"text","content":"TORONTO, Feb. 3, 2026 /CNW/ - PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) ("PowerBank" or the "Company"), a leader in North American energy infrastructure development and asset ownership, is pleased to announce that is has raised gross proceeds of $13.68 million USD through the offering of common shares ("Shares") under its previously announced "at the market" ("ATM") offering program pursuant to a prospectus supplement dated June 5, 2025 to its short form base shelf prospectus dated May 7, 2025.","length":571,"tagName":"p"},{"type":"image","alt":"PowerBank Logo (CNW Group/PowerBank Corporation)","displaySize":"","headline":null,"caption":"PowerBank Logo (CNW Group/PowerBank Corporation)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":65,"url":"https://media.zenfs.com/en/cnwgroup.com/95db8f36158dbd7da0422fed722d9724"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/Q0rVTYuAoMtzIBsqaYRnMw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTExNTtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/95db8f36158dbd7da0422fed722d9724","width":400,"height":65}},"href":"https://mma.prnewswire.com/media/2875394/PowerBank_Corporation__13_68_Million_USD_Successfully_Raised_by.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Through the ATM, PowerBank has sold 7,738,625 Shares for gross proceeds of approximately $13.68 million USD. The net proceeds raised have been or will be deployed to support the development of the Company's expanding portfolio of renewable energy projects, to strengthen its position as an independent power producer, for investor relations expenditures, for ongoing operations and for working capital requirements.","length":419,"tagName":"p"},{"type":"text","content":"Dr. Richard Lu, President & CEO Commented, "This successful capital raise helps support PowerBank's growth trajectory and strategic vision. The proceeds provide us with financing that has helped and will help advance our robust development pipeline, focused on solar and battery energy storage, while strengthening our balance sheet....