Boston, MA 10\/23\/2013 (wallstreetpr) –\u00a0Taking over Mercury Energy Inc is no longer $18.4 million affair as it were in August. The value has risen and now\u00a0Real Goods Solar, Inc. (NASDAQ:RSOL) could pay more than $20 million for the deal. The Mercury takeover value is based on the share value of RSOL which was put in the range of $2.56 and $3. As such, the transaction value came to $18.4 million. The class A common stock of RSOL traded at $2.33 per share at that time.<\/p>\n
In the deal, RSOL is to issue 7.9 million shares of its class A common stock. The exact value to this stock stands to be determined when the deal closes, but that closing date is still not known yet. But even so, the deal transaction is subject to approval of the shareholders from both ends of the bargain. If the deal ends in approval, a member from the Mercury\u2019s board will sit on the RSOL board of directors.<\/p>\n
Also, at the close of the deal, up to 50 employees of Mercury will join RSOL. These also include executives. The executives would receive a given amount of the RSOL class A stock and roughly $100K in cash. The executives from Mercury will also receive option to buy more shares of RSOL stock up to 100K units. But this is if the deal happens before fall of December 31.<\/p>\n
In the new corporate outfit emerging after the takeover, Mercury\u2019s co-founder Haines will be deployed as the vice president RGS Energy to lead the commercial and utility division for the northeast region of the U.S. Another Mercury co-founder Coschigano will be in charge of operations in northeast region of the U.S. as vice president RGS Energy.<\/p>\n
Mercury is a 2008 company involved in solar project installations. It has accumulated revenue of $250 million, with $35 million of this revenue having been earned last year. The company has installed more than 50 MW of solar projects and it has cash asset running into $10 million; Mercury has no debts.\u00a0 By adding Mercury to its business profile, RSOL will be expanding its footprint in the clean and renewable energy market.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 10\/23\/2013 (wallstreetpr) –\u00a0Taking over Mercury Energy Inc is no longer $18.4 million affair as it were in August. The value has risen and […]<\/p>\n","protected":false},"author":12,"featured_media":11079,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[1673,3556,1672,3557],"stock_ticker":[],"class_list":["post-11078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-nasdaqrsol","tag-real-goods-solar-inc","tag-real-goods-solar-inc-nasdaqrsol","tag-rsol","entry"],"acf":[],"yoast_head":"\n