An often up and down name we haven’t had occasion to cover in quite some time, but that just jumped back onto the radar this week, is Solarwindow Technologies Inc (OTCMKTS:WNDW). The company may be worth a new look after it announced the completion of a $25 million equity financing. Kalen Capital Corporation (KCC), the family office of Mr. Harmel S. Rayat, founder and Chairman of the company, has invested approximately $24.9 million in this round.
“This capital infusion marks a historical inflection point for SolarWindow and our nearly 15,000 shareholders. With this capital in hand and a decade of research and development behind us, we can now purchase equipment and hire personnel required for manufacturing of electricity-generating glass, a brand-new form of electrification,” stated Mr. John Conklin, President and CEO of SolarWindow Technologies.
Solarwindow Technologies Inc (OTCMKTS:WNDW) frames itself as a company that develops electricity-generating systems using see-through glass windows and flexible plastic products.
It engages in developing SolarWindow electricity-generating systems that harvest light energy from the sun and artificial sources using a coating of organic photovoltaic solar cell.
The company is also involved in developing SolarWindowCommercial, a flat glass product for installation in new commercial towers under construction and replacement windows; SolarWindowStructural Glass, a structural glass wall and curtain for tall structures; SolarWindowArchitectural Glass, a textured and decorative interior glass walls, room dividers, etc.; and SolarWindowResidential, a window glass for installation in new residential homes under construction and replacement windows.
In addition, it engages in developing SolarWindowFlex, a flexible film, which is applied directly onto glass for retrofit to existing commercial towers, buildings, and residential homes; SolarWindowBIPV components associated with BIPV applications in homes, buildings, and office towers; and SolarWindow Retrofit Veneer, a transparent, tinted, and flexible veneer that installers can apply directly over top of existing windows.
The company was formerly known as New Energy Technologies, Inc. and changed its name to SolarWindow Technologies, Inc. in March 2015. SolarWindow Technologies, Inc. was founded in 1998 and is based in Columbia, Maryland.
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As noted above, WNDW just announced the completion of a $25 million equity financing. Kalen Capital Corporation (KCC), the family office of Mr. Harmel S. Rayat, founder and Chairman of the company, has invested approximately $24.9 million in this round.
In all, the chart shows 60% piled on for shareholders of the listing during the trailing month, but this action is running counter to the larger trend in the name. Moreover, the name has registered increased average transaction volume recently, with the past month seeing 93% above the average volume levels in play in this stock over the longer term.
“My financial investment and confidence in SolarWindow is stronger than ever. I believe that we’re in the right place at the right time, and am proud to support the launch of one of the most exciting technology start-ups in recent memory,” stated Mr. Rayat.
At this time, carrying a capital value in the market of $122M, WNDW has a chunk ($1.2M) of cash on the books, which compares with virtually no total current liabilities. The company is pre-revenue at this point. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $WNDW stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $WNDW, either long or short, and we have not been compensated for this article.