Skycorp Solar acquires full control of Nanjing Cesun and raises $3M via private placement

Skycorp Solar Group Limited has signed an agreement to acquire the remaining 56% stake in Nanjing Cesun Power Co., Ltd., increasing its ownership to 100%. The acquisition, valued at approximately $20.2 million paid in newly issued shares, integrates Nanjing Cesun's renewable energy operations into Skycorp's portfolio, enhancing its revenue and capabilities. Concurrently, Skycorp raised $3 million through a private placement with three institutional investors to support working capital and strategic growth. Both transactions include lock-up agreements to ensure long-term shareholder value and have been approved by independent directors due to related-party interests.