SolarWindow President and Director, John Rhee and his common-law spouse Seongae Ko acquired a 62.002488% stake in SolarWindow Technologies, Inc. from Kalen Capital Corporation for $50.4 million.
December 13, 2021
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SolarWindow President and Director, John Rhee and his common-law spouse Seongae Ko acquired a 62.002488% stake in SolarWindow Technologies, Inc. (OTCPK:WNDW) from Kalen Capital Corporation for $50.4 million on December 8, 2021. Pursuant to the Purchase and Sale Agreement, the total consideration for the purchase of the Sale Shares payable by the Buyer to the Seller in cash as follows: (a) approximately $37,402,000 on the Completion Date to be paid on or prior to on the date that is one hundred twenty calendar days after the Completion Date and (b) approximately $12,992,000 on the Completion Date additional penalty if the Consideration is paid after the Initial Payment Deadline, but no later than a date that is two hundred forty days after the Initial Payment Deadline. Kalen Capital Corporation continues to own 2,654,520 shares of SolarWindow's common stock, which represents approximately 4.99% of SolarWindow's issued and outstanding shares.
SolarWindow President and Director, John Rhee and his common-law spouse Seongae Ko completed the acquisition of a 62.002488% stake in SolarWindow Technologies, Inc. (OTCPK:WNDW) from Kalen Capital Corporation on December 8, 2021.
SolarWindow Technologies, Inc. is engaged in developing transparent electricity-generating coatings and methods for their application to various materials, which is referred to as LiquidElectricity Coatings. The Companyâs LiquidElectricity Coatings generate electricity by harvesting light energy from natural sun, artificial light, and low, shaded, or reflected light conditions. It applies ultra-thin layers of LiquidElectricity coatings to rigid glass, and flexible glass and plastic surfaces where they transform otherwise ordinary surfaces into organic photovoltaic devices. LiquidElectricity is a framework which utilizes chemistry for different ultra-thin layers applied to a substrate. These layers include hole transport layers, active layers, electron transport layers, and conductive contact points for transmission of electricity. The applications of LiquidElectricity Coatings span across multiple industries, including architectural, automotive, and marine.
SolarWindow President and Director, John Rhee and his common-law spouse Seongae Ko acquired a 62.002488% stake in SolarWindow Technologies, Inc. from Kalen Capital Corporation for $50.4 million.
SOLARWINDOW TECHNOLOGIES, INC. 
