Powerbank raises $13.68M (U.S.) through equity offering

Executive Summary

• Powerbank Corp. successfully raised $13.68 million USD in gross proceeds through an at-the-market (ATM) equity offering of common shares.
• The company sold 7,738,625 shares under its short form base shelf prospectus.
• Net proceeds are designated for the development of renewable energy projects, strengthening the company's position as an independent power producer, and general working capital requirements.

Key Details

• Gross Proceeds: $13.68 million USD.
• Shares Sold: 7,738,625 common shares.
• Offering Type: At-the-market (ATM) equity offering.
• Regulatory Basis: Pursuant to a prospectus supplement dated June 5, 2025, to the short form base shelf prospectus dated May 7, 2025.
• Use of Proceeds:
  • Support development of the company's expanding portfolio of renewable energy projects.
  • Strengthen position as an independent power producer.
  • Investor relations expenditures.
  • Continuing operations.
  • Working capital requirements.
• Company Assets: Approximately $138 million in assets as of September 30, 2025.
• Development Pipeline: Exceeds one gigawatt.
• Track Record: Successfully developed over 100 megawatts of renewable energy capacity.
• Strategic Focus: Distributed and community solar sectors across key North American markets, including solar and battery energy storage systems (BESS).

Notable Quotes

• "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. As we expand our owned asset portfolio and establish ourselves as a growing independent power producer, we remain committed to delivering value to our shareholders while advancing the clean energy transition." — Dr. Richard Lu, President and CEO