Real Goods Solar, Inc. (NASDAQ:RSOL) Calls for Special Meeting

Posted by Michael Korte December 16, 2013 0 Comment 2306 views

Real Goods Solar, Inc. (NASDAQ:RSOL) is a Louisville, Colorado based general building materials company that operates as a residential and commercial solar energy engineering and construction company. The stock fell close to 15.5% during last week and has delivered 195% returns year to date. The company operates in typical solar segment which allows customers to go solar with almost no upfront cost, through unique lease and power agreement arrangements.

In this segment, Real Goods Solar, Inc. (NASDAQ:RSOL) competes with SunPower Corporation (NASDAQ:SPWR) and SolarCity Corp (NASDAQ:SCTY).

The Competitors

Real Goods Solar, Inc. (NASDAQ:RSOL) has a market capitalization of $67.30 million and annual sales of $98.3 million. SunPower Corporation (NASDAQ:SPWR) has market cap of $3.36 billion with an annual sales of $2.55 billion. SolarCity Corp (NASDAQ:SCTY) operates with a market cap of $4.09 billion and an annual sales of $141.8 million.

These companies presently enjoys various tax credits and incentives offered by government to promote the purchase and use of solar power and effective monetization of these subsidies in turn allow them to offer solar systems with monthly installments, avoiding heavy upfront payments.

Shareholders’ Special Meeting

Real Goods Solar, Inc. (NASDAQ:RSOL) has called for a special meeting on January 14, 2014 at its offices in Louisville, Colorado and has urged shareholders to vote in person or via proxy at the meeting.

The meeting will be held to consider the approval of issuance of shares of the Company’s Class A common stock in connection with the Mercury merger as well as an amendment to the Company’s 2008 Long-Term Incentive Plan.

Real Goods Solar, Inc. (NASDAQ:RSOL)’s CEO Kam Mofid echoed, “Our management and our board of directors believe that the merger with Mercury will position us as one of the largest U.S. solar installers, increase our financial resources and stability, and provide us with superior access to growth capital.”

About Michael Korte

Michael Korte an investigative reporter at GDP Insider and is a breaking news reporter. Michael work includes investigations of misconduct by federal prosecutors and industrial air pollution around the nation's schools. His reporting has been recognized with the Hillman Prize for Newspaper Journalism, the Grantham Prize for Excellence in Reporting on the Environment, and the Philip Meyer Journalism Award for reporting that incorporates social science methods.

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