HomeNovember 12, 2018
Genie Retail Energy Discloses Purchase Price For Prism Solar Technologies
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In a 10-Q, Genie Retail Energy (GRE) disclosed the purchase price for its previously reported acquisition of a majority stake of Prism Solar Technologies
"On October 25, 2018, GRE completed its transaction to acquire a 60.0% interest in Prism in exchange for a total consideration of $4.0 million, which include (i) the conversion of $1.4 million of principal amount of Bridge Loans, including any accrued interest, to Prism into equity, (ii) $1.1 million in cash, and (iii) an obligation to fund an additional $1.5 million within 60 days," Genie said in the 10-Q
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