Satcon Technology Announces Closing of Public Offering of its Common Stock

BOSTON--(BUSINESS WIRE)--Satcon Technology Corporation (“Satcon”) (Nasdaq: SATC) today announced that it has closed its previously announced public offering of 17,891,346 shares of its common stock (including 2,333,654 shares issued pursuant to the exercise in full of the underwriters’ over-allotment option) at a price to the public of $1.30 per share. The gross proceeds to Satcon, before expenses, from the sale of shares were approximately $23.3 million.

Thomas Weisel Partners LLC acted as managing underwriter and book runner and Ardour Capital Investments, LLC acted 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 was made pursuant to a final prospectus supplement to the prospectus contained in the shelf registration statement, which Satcon filed with the SEC on June 10, 2009.

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 final prospectus supplement and accompanying prospectus relating to the offering may be obtained by contacting Thomas Weisel Partners LLC by mail at One Montgomery Street, San Francisco, California 94104 or by telephone at (415) 364-2720.