BURLINGTON, Vt.--(BUSINESS WIRE)--iSun, Inc. (NASDAQ: ISUN) (the “Company”, or “iSun”), a leading solar energy and clean mobility infrastructure company with 50 years of construction experience in solar, electrical and data services, released today an edited transcript from its investor call to discuss the details of its acquisition of SolarCommunities Inc (“SunCommon”).
- Creates a regional full-service solar installation leader servicing the residential, commercial, industrial and utility-scale markets including solar electric vehicle charging.
- Positions combined company to effectively capitalize on emerging opportunities in the residential and small commercial landscape.
- Leverages brand and marketing expertise of SunCommon to effectively grow presence and message in new regional markets.
- Transaction consideration includes $24,034,621 in cash and $15,965,379 in stock; provides $2.5 million of the consideration directly to SunCommon employees, establishes a stock ownership plan for all iSun employees, and a $1.5 million working capital infusion.
- Anticipated to be accretive to iSun by doubling projected revenue for 2021.
- Alignment of software, shared services and vendor base will enable synergies with expected $1.25 million in savings in year-1 and provide opportunities to reduce customer acquisition costs across all business segments.
Transaction Conference Call Details
An edited transcript of the conference call, recorded on Thursday, September 9, 2021, at 8:30 AM EDT is available on the Investor Relations section of the iSun website at investors.isunenergy.com, under the Events Calendar. An archived audio replay will also be available through September 23rd, 2021, at 877-481-4010, Conference ID# 42785.
About iSun Inc.
Since 1972, iSun has accelerated the adoption of proven, life-improving innovations in electrification technology. iSun has been the trusted electrical contractor to Fortune 500 companies for decades and has installed clean rooms, fiber optic cables, flight simulators, and over 400 megawatts of solar systems. The Company has provided solar EPC services across residential, commercial & industrial, and utility scale projects and provides solar electric vehicle charging solutions for both grid-tied and battery backed solar EV charging systems. iSun believes that the transition to clean, renewable solar energy is the most important investment to make today and is focused on profitable growth opportunities. Please visit www.isunenergy.com for additional information.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of
1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.