SolarCity Corp. has completed the acquisition of the assets of Paramount Energy Solutions, LLC dba Paramount Solar, a subsidiary of Paramount Equity, for a total consideration of $120 million, including 3,674,565 shares of SolarCity common stock priced at $31.65 per share, and $3.7 million in cash. The acquisition agreement was first announced on Aug. 13 and the transaction closed and became effective on Friday, Sept. 6. As previously announced, former Paramount Equity CEO Hayes Barnard has joined SolarCity as chief revenue officer in charge of the company’s sales and marketing organizations, effective immediately.
SolarCity Completes the Acquisition of Paramount Solar |
| published: 2013-09-10 15:55 |
