Skycorp Solar Group Limited (PN), a solar PV products provider, saw its shares jump 14% on Wednesday after announcing a $3.6 million private placement. The deal brings the company's recent PIPE funding to $6.6 million.

Under agreements signed May 6, Skycorp will issue 1,685,000 Class A Ordinary Shares at $2.1365 per share. That price represents a 30.19% discount to the average Nasdaq closing price over the prior 15 trading days. The financing follows a previously announced $3 million PIPE transaction involving 1,694,000 Class A ordinary shares.

The latest round includes four unaffiliated institutional investors. Existing investors Hoping Group Limited, Matrix Sea Limited, and Hoping AI Machine Pte Ltd expanded their positions, while Helios Tech Limited joined as a new investor, subscribing for 1,295,500 shares worth about $2.77 million. All newly issued shares are subject to a six-month lock-up starting May 6.

Skycorp said the proceeds will support working capital, business development, and strategic initiatives—including a potential 200MW wind farm project in Hebei Province, China.

In April, the company also signed an agreement to acquire the remaining 56% stake in Nanjing Cesun Power for $20.19 million, bringing its ownership to 100%. Skycorp manufactures and sells solar photovoltaic products like cables and connectors, and also supplies GPU and HPC servers.

At the time of publication Wednesday, Skycorp shares were up 14.39% at $7.87.