Skycorp Solar Shares Jump 80% on Acquisition

Skycorp Solar announced acquisition of remaining 56% of Nanjing Cesun for $20.19 million, valuing it at $36.06 million.
The deal will be funded by issuing 7.983 million ordinary shares at $2.529 each, a related‑party transaction with CEO Huang Weiqi and EZPower.
On May 1, Skycorp entered a PIPE, raising $3 million by issuing 1.694 million Class A shares at $1.7703, a 30% discount to the 10‑day average.
Shares jumped roughly 80% on Monday following the announcements, reflecting strong market reaction to the acquisition and financing.