The Peck Company Holiday, Inc. completed the acquisition of iSun Energy LLC from Sassoon M. Peress.
January 18, 2021
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The Peck Company Holiday, Inc. (NasdaqCM:PECK) entered into a term sheet to acquire iSun Energy LLC from Sassoon M. Peress for CAD 3.9 million on December 30, 2020. Sassoon M. Peress will receive 400,000 shares of The Peck Company Holiday, Inc. (NasdaqCM:PECK) common stock over five years, warrants to purchase up 200,000 shares of The Peck Company Holidays, Inc. common stock, and up to 240,000 shares of The Peck Company Holidays, Inc. common stock based on certain performance milestones. Peck shall issue to Sassoon M. Peress common stock purchase warrants to acquire 100,000 shares of common stock at an exercise price equal to $12.00 per share, exercisable after the closing stock price of PECK’s common stock is greater than or equal to $12 per share for 20 trading days in any 30-day period, such warrants to expire upon the 3rd anniversary of issuance and contain a cashless exercise provision. iSun Energy LLC remains as the surviving corporation in the merger and becoming a wholly-owned subsidiary of The Peck Company Holdings, Inc. The Peck Company Holdings, Inc. will acquire iSun Energy LLC and change its name to iSun Energy, Inc and trade on Nasdaq under the symbol “ISUN”. Sassoon M. Peress will become Chief Innovation and Experience Officer. The definitive merger agreement is subject to the Peck Company’s Board of Directors approval. The transaction is expected to close in January 2021.
The Peck Company Holiday, Inc. (NasdaqCM:PECK) completed the acquisition of iSun Energy LLC from Sassoon M. Peress on January 19, 2021. Peck Company Holiday entered into the agreement to acquire iSun Energy LLC from Sassoon M. Peress on January 19, 2021.
iSun, Inc. is a solar energy services and infrastructure deployment company. The Company provides a suite of solar services across residential, commercial, industrial and municipal, and utility-scale projects and provides solar electric vehicle (EV) charging solutions for both grid-tied and battery- backed solar EV charging systems. The Companyâs Residential segment designs, arranges financing, integrates, installs, and manages systems, primarily for residential homeowners. Its Commercial and Industrial segment designs, integrates, installs, and manages systems ranging in size from 50 kW (kilowatt) to multi-MW (megawatt) systems primarily for larger commercial and industrial projects. Its Utility segment develops, designs, engineers, arranges financing, installs, and manages systems ranging in size from 500 kW to multi-MW systems primarily for asset owners, businesses, and municipalities. The Utility segment is originating projects in Vermont, North Carolina, Ohio, and others.