PowerSecure International Acquires Solais Lighting for $15,000,000
- Feed Type
- Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2a5870af-cd45-4f4a-90e3-1d8f67171376&Preview=1 - Date
4/18/2013 - 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. - Website
http://www.solaislighting.com - Transaction Type
M&A - Transaction Amount
$15,000,000 - Transaction Round
- Proceeds Purposes
- 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.
