SolarCity Completes Acquisition Of Paramount Solar

SolarCity, a full-service solar power provider, has completed the acquisition of the assets of Paramount Energy Solutions LLC (dba Paramount Solar), a subsidiary of Paramount Equity, for a total consideration of $120 million, including 3,674,565 shares of SolarCity common stock priced at $31.65 per share and $3.7 million in cash.

Former Paramount Equity CEO Hayes Barnard has joined SolarCity as chief revenue officer in charge of the company's sales and marketing organizations.

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