Company Name Solaicx
Mailing Address 5102 Calle Del Sol Santa Clara, CA 95054
Company Description Solaicx is developing breakthrough manufacturing technology yielding low-cost, high-efficiency silicon wafers for the photovoltaic (PV) industry. By designing and building equipment optimized for the high volume, continuous manufacture of high-performance, single crystal silicon ingots, Solaicx creates significant competitive advantages, in terms of cost and quality, which are then passed through the value chain of the entire silicon-based solar cell manufacturing market.
M&A Terms MEMC will pay to the existing securityholders of Solaicx at closing cash in the amount of $66 million, plus an additional amount in cash equal to amounts which have been recently invested in, or which may be invested prior to closing in Solaicx by its existing securityholders. The aggregate additional investment amount is estimated to be approximately $10 million.