Company Name Solais Lighting
Mailing Address 470 West Ave. Stamford, CT 06902-6359
Company Description Solais Lighting is a market-driven manufacturing company that has designed and built the world’s premier LED lamps with the light-output, focused-beam and full-dimming features required to replace high-efficiency halogen reflector lamps.
M&A Terms PowerSecure paid the stockholders of Solais $6.5 million in cash plus 675,160 shares of PowerSecure common stock and assumed approximately $0.2 million in negative working capital for a total transaction value of $15 million. The PowerSecure shares were valued at their volume-weighted average closing sale price (VWAP) as reported on the Nasdaq Global Select Market over the five business days immediately preceding the closing date of April 12, 2013, or $12.22 per share. All outstanding shares of capital stock of Solais were exchanged for the merger consideration.