- Aurora Solar Technologies (ACU) provides an update on the acquisition of BT Imaging
- Aurora will issue 62,969,351 common shares and $1,205,310 in cash to BT Imaging shareholders
- The cash portion will be paid to employees and consultants who are current shareholders of BT Imaging and will remain with the company after the closing of the acquisition
- Aurora Solar Technologies is a leader in developing and delivering inline process control and yield management solutions for solar cell manufacturers
- Aurora Solar Technologies Inc. (ACU) is down 5.26 per cent, trading at 12:11 pm EST
Aurora Solar Technologies’ (ACU) acquisition of BT Imaging Pty is scheduled to close in August.
The company’s products are used by some of the world’s most advanced and respected solar cell manufacturers.
Headquartered near Vancouver, Aurora operates in Shanghai and partners in all major solar manufacturing markets.
Aurora will issue 62,969,351 common shares and $1,205,310 in cash to BT Imaging shareholders.
The cash portion will be paid to employees and consultants who are current shareholders of BT Imaging and will remain with the company after the closing of the acquisition.
All other material transaction terms remain unchanged, including that all Aurora common shares issued in the acquisition will be at a deemed price of $0.20 per share.
The announced non-brokered private placement financing is progressing, and all subscriptions are expected to be received on or before August 8.
“Business integration efforts are underway to facilitate a smooth transition, including post-acquisition sales and market growth plans,” said Gordon Deans, Aurora’s President and CEO.
“Now, by combining BT Imaging’s leading products with our Insight yield management platform and DM products, Aurora will be ideally positioned to take full market leadership and build robust growth in manufacturing process control and yield management solutions,” added Deans.
Aurora Solar Technologies is a leader in developing and delivering inline process control and yield management solutions for solar cell manufacturers.
Aurora Solar Technologies Inc. (ACU) is down 5.26 per cent, trading at 12:11 pm EST
