US-based Real Goods Solar will issue eight million unregistered shares of its Class A common stock to Alteris equity holders for 100% of Alteris’ outstanding equity.
The number of shares to be issued could be increased from an earn-out based on Alteris’ 2011 financial performance and achieving certain milestones, the companies said.
The merger is expected to close in the third quarter of this year and is subject to approval by Real Goods Solar’s shareholders.
Real Goods Solar is a solar energy integrator in the US states of California and Colorado, having installed over 7,300 residential solar electric systems, while US-based Alteris has installed more than 4,000 solar electric systems during the past 30 years.
