Satcon Technology Announces $20,225,000 Public Offering of Shares of Common Stock

BOSTON--(BUSINESS WIRE)--Satcon Technology Corporation (Nasdaq: SATC), a leading provider of utility scale distributed power solutions for the renewable energy market, announced today that it intends to offer shares of its common stock in a $20,225,000 public offering pursuant to an effective shelf registration statement. The Company expects to grant the underwriters a 30-day option from the date of the final prospectus supplement to purchase up to an additional $3,033,750 of its common stock. All of the shares of common stock will be offered by the Company. Thomas Weisel Partners LLC managing underwriter and book runner and Ardour Capital Investments, LLC will act as co-managing underwriter.

A shelf registration relating to the shares was originally filed with the Securities and Exchange Commission on May 6, 2009 and has since been declared effective. The offering will be made pursuant to a prospectus supplement to the prospectus contained in the shelf registration statement, which prospectus supplement will be filed with the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Copies of the prospectus supplement relating to the offering may be obtained, when available, by contacting Thomas Weisel Partners LLC by mail at One Montgomery Street, San Francisco, California 94104 or by telephone at (415) 364-2720.