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Stock impact report

Pineapple Energy Announced CVR Agreement extended to December 31, 2024

Pineapple Energy Inc. (PEGY) 
Company Research Source: GlobeNewswire
MINNETONKA, Minn., March 28, 2024 (GLOBE NEWSWIRE) -- Pineapple Energy Inc. (NASDAQ: PEGY), a leading provider of sustainable solar energy and back-up power to households and small businesses, today announced CVR agreement extended to December 31, 2024. Pursuant to the merger of Communications Systems Inc. (CSI) and Pineapple Energy, Inc. on March 28, 2022, CSI shareholders of record at the close of business on March 25, 2022 (the “CVR Holders”) received one contractual, non-transferable contingent value right (“CVR”) per share of CSI common stock each respectively owned. A total of 2,429,341 CVRs were issued following the merger, and each CVR represents the right to receive a pro rata portion of proceeds available from the disposition of CSI’s pre-merger assets following the merger. The CVRs were distributed, pursuant to a Contingent Value Rights Agreement (“CVR Agreement”) between Pineapple Energy, the CVR Holders’ Representative, and Equiniti Trust Company. At the time of t Show less Read more
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