Satcon Announces Effectiveness of 1-for-8 Reverse Stock Split

Satcon Technology Corporation®

today confirmed that the previously announced 1-for-8 reverse split of its common stock, $0.01 par value per share, took effect at 12.01 a.m. on July 19, 2012. Satcon's common stock began trading on a post-split basis on The NASDAQ Capital Market as of the opening of trading today. Upon effectiveness of the reverse stock split, every eight shares of the company's issued and outstanding common stock automatically converted into one issued and outstanding share of common stock. No cash or fractional shares were issued in connection with the reverse stock split, and instead the company rounded up to the next whole share in lieu of issuing factional shares that would have been issued in the reverse split. The reverse stock split, which was approved by Satcon's stockholders on June 20, 2012, reduced the outstanding number of shares of common stock from approximately 144.2 million to approximately 18.0 million. Concurrent with the reverse stock split, Satcon reduced the number of authorized shares of its common stock to 37.5 million.