Nasdaq-listed Real Goods Solar will issue 7.9 million of its class A common stock to buy privately held Mercury, which hauled in revenues of $35m last year.
Based on Real Goods Solar’s pre-announcement share price of $2.08, the deal would be worth around $16.4m.
New York-based Mercury has $10m in cash and no debt, and has installed about 50MW of PV capacity over the course of its operating life, according to Real Goods Solar.
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