Day4 Energy Inc. has completed its previously announced acquisition of ACI ecoTec GmbH in an all-stock transaction of up to 9.18 million common shares.
At the completion of the acquisition, 5,400,000 common shares of the company were issued at a price of $0.90 per share. The balance of the common shares may be issued subject to earnout provisions as set forth in the purchase agreement related to this acquisition, Day4 Energy notes.
‘With technological differentiation rapidly emerging as a critical area for most PV manufacturers, we believe the combination of our state-of-the-art equipment and Day4 Energy's technology will offer an unbeatable combination for those organization looking to gain an advantage in the high-growth – but competitive – market for PV modules,’ says Karl-Heinz Menauer, CEO of ACI.
SOURCE: Day4 Energy Inc.