Peck Company: Surges on all-stock deal to buy iSun Energy

iSun

05/01/2021 15:07

** Shares of renewable energy equipment and services co
 PECK.O  more than double to $13.68; highest since October 2020 
    ** PECK to acquire solar power provider iSun Energy LLC in
an all-stock deal  urn:newsml:reuters.com:*:nBwp8DBZa
    ** PECK plans to change its name to iSun Energy and trade on
Nasdaq under the ticker "ISUN" upon deal closing
    ** PECK expects deal to be accretive with $2 mln near-term
revenue commitments, 30-40% project gross margin and a software
platform for recurring energy service revenues
    ** Adds that the timely market expansion capitalizes on
President-elect Joe Biden administration's plan to make major
public investments in renewables and electric mobility
infrastructure
    ** Including session's gains, stock has surged over 93% YTD

 (Reporting by Shradha Singh in Bengaluru)
 ((Shradha.Singh@thomsonreuters.com; within U.S. +1 646 223 8780
Ext: 2804, outside U.S. +91 80 6182 2630;))