Sky Solar revises terms for IPOs and changes underwriters

Sky Solar revised terms for its IPO on Monday. The company now plans to raise up to $48 million by offering 6.0 million ADSs at a range of $7-$8. Before postponing its IPO last Thursday, Sky Solar had planned to raise $138 million by offering 12.5 million ADSs at a range of $10-$12. Sky Solar also replaced bookrunners FBR and Cowen & Company with Roth Capital (formerly a co-manager on the deal). Insiders still plan to purchase up to $20 million (~40%) of the IPO.