Satcon Technology Announces Closing of Public Offering of its Common Stock

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.