This $2 Solar Stock Soared Over 70% Overnight – And Retail Is Watching

• Skycorp previously held a 44% stake in Nanjing Cesun and will own it fully after the deal.
• Skycorp will fund the deal with about 7.98 million new shares.
• Skycorp regained Nasdaq compliance on April 27 after previously falling below the $1 minimum share price requirement.

Skycorp Solar Group (PN) shares made a sharp comeback, jumping more than 71% overnight, heading into Monday after the company announced a major acquisition deal and new funding. 

The company, once weighed down by regulatory pressure and weak market sentiment, has repositioned itself as a vertically integrated clean energy player.

Acquisition Strengthens Skycorp’s Energy Portfolio

Investor enthusiasm surged after Skycorp Solar on Friday confirmed it signed a Share Acquisition Agreement to purchase the remaining 56% stake in Nanjing Cesun Power Co., Ltd., a diversified clean energy operator. 

The deal is likely to give Skycorp full ownership of the target company, expanding its footprint in energy storage, inverter production, and photovoltaic system operations.

Before the transaction, Skycorp already owned 44% of Nanjing Cesun through its subsidiary PN Sunshine Pte. Ltd. After closing, it will consolidate 100% of the business, integrating its revenue streams directly into its financial structure.

“This integration not only strengthens our revenue base and operational capabilities but also utilizes a post-transaction structure designed to strategically position the Company to leverage China domestic support policies and government grants."

-Huang Weiqi, CEO, Skycorp

The acquisition is valued at approximately $20.19 million for the remaining stake, with total enterprise value assessed at roughly $36.06 million.

PN’s Share Issuance And Lock-Up Structure

Skycorp plans to pay for the deal by issuing about 7.98 million new shares, priced around $2.53 each based on recent averages. Shares linked to Huang cannot be sold for 24 months, while shares given to other sellers will be locked for six months.

Alongside the acquisition, Skycorp secured $3 million through a private placement with three institutional investors, issuing 1.69 million Class A shares at a discounted price of $1.77 each. The financing proceeds will support working capital needs, and business expansion.

Nasdaq Compliance Adds Tailwind

Solar Group Limited received confirmation from Nasdaq on April 27, that it has met the minimum bid price requirement to remain listed on the exchange. The company had earlier been notified that its shares fell below the required $1.00 closing price threshold for 30 consecutive trading days, putting its listing status at risk.

PN Stock: What Are Retail Traders Saying? 

On Stocktwits, retail sentiment around the stock remained in ‘bullish’ territory. 

A user said, “You wanna make crazy money, come to PN, SIMPLE.” 

PN stock has declined by over 80% year-to-date. 

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