Daystar Power will consider equity raise, acquisitions and exit options in mid-term – exec
29 January 2021
Daystar Power, an African solar-energy provider, will consider an equity raise, acquisitions and exit options in the mid-term, co-founder and executive Christian Wessels told Mergermarket.
Daystar Power, an African solar-energy provider, will consider an equity raise, acquisitions and exit options in the mid-term, co-founder and executive Christian Wessels told Mergermarket.
The company, which is in talks to raise debt financing, has yet to decide whether it will raise another equity round, Wessels said. If the market continues to accelerate, the company might benefit from new capital, he said, but having raised a USD 38m Series B earlier this month, it is well financed for the next 24 to 30 months.
Daystar had planned to raise USD 20m in equity in the Series B round, as reported, but its large project pipeline and strong interest from investors convinced the company to raise a larger amount, he said. It has raised USD 48m to date, he said. He did not disclose the company’s valuation, or its revenue figure.
