Jun 22, 2011
Real Goods Solar (NASDAQ:RSOL) and Alteris Renewables announced that they have entered into a definitive merger agreement to create a multi-state solar integration powerhouse.
Real Goods Solar will issue 8 million unregistered shares of its Class A common stock to Alteris equity holders for 100% of Alteris' outstanding equity.
Bill Yearsley, CEO of Real Goods Solar, "I am excited to join Real Goods Solar, the pioneering solar company in the United States. Our ability to execute projects successfully is highly dependent on human resources, our most important asset. Having the opportunity to bring together two very seasoned management teams positions our organization well for the future. The organization we are building will now be capable of providing integrated national project delivery. This is an industry that is built around constant change and I look forward to a program of well planned profitable growth both organically and through acquisitions."
Real Goods Solar has a potential upside of 79.5% based on a current price of $2.6 and an average consensus analyst price target of $4.67.
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