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The Peck Company Holdings, now iSun, Inc., has officially changed its name effective January 19, 2021, with the new ticker symbol ISUN to begin trading on January 21, 2021. This change follows the planned acquisition of iSun Energy LLC, set to close by the end of January. Headquartered in South Burlington, VT, iSun focuses on solar power, electric mobility, and smart city solutions. Since 2012, iSun has installed over 200 megawatts of solar systems, positioning itself as a top commercial solar contractor in the Northeast.
The Peck Company Holdings, Inc. (Nasdaq: PECK) has successfully completed a registered direct offering of 840,000 shares at $12.50 each, generating approximately $10.5 million in gross proceeds. The funds will be allocated for general corporate purposes, including working capital, product development, and acquisitions. CEO Jeffrey Peck highlighted the company's 50-year service history and strategic initiatives, including growth in their EPC business and a rebranding efforts to 'iSun Energy,' aimed at innovating in the electric vehicle market.
The Peck Company Holdings, Inc. (Nasdaq: PECK) announced a registered direct offering selling 840,000 shares of common stock at $12.50 per share, expected to close around January 12, 2021. This move is part of the Company's long-term growth strategy, enhancing its focus on innovative products in the electric vehicle market and supporting its green bond partnership. The offering is facilitated by A.G.P./Alliance Global Partners under an existing shelf registration statement with the SEC.
The Peck Company Holdings, Inc. (NASDAQ: PECK) has announced a binding term sheet to acquire iSun Energy LLC in an all-stock transaction. This strategic move aims to enhance Peck's position as a full-service energy solutions provider. Peck's CEO emphasizes that the acquisition will allow the company to expand into higher-margin products and services while capitalizing on significant market growth opportunities. Post-acquisition, Peck will rebrand as iSun Energy, trading under the ticker 'ISUN'. The merger is anticipated to close in January 2021, pending board approval.
The Peck Company Holdings (NASDAQ: PECK) recently highlighted insights from interviews regarding the expansion of green bonds in renewable energy. CEOs William Dale and Jonas Englund emphasized the significance of these bonds in financing solar projects, projecting a green bond market growth to $5 trillion by 2035. The partnership with GreenBond Advisors enhances Peck's capital access without burdening its balance sheet. The firm anticipates 70-80% of electricity generation will come from renewables in 20 years, with solar expected to rise to 30% from less than 2% today.
The Peck Company Holdings, Inc. (NASDAQ: PECK) announced that its executives will attend the Benchmark Company’s 9th Annual Discovery 1x1 Investor Conference on November 18, 2020. CEO Jeff Peck, CFO John Sullivan, and Chief Strategy Officer Michael D’Amato will be available for virtual meetings throughout the day. The Peck Company is recognized as a leading commercial solar engineering, procurement, and construction firm, having installed over 125 megawatts in solar systems since 2012. For meeting scheduling, contact Benchmark Company representatives or Vince Curatola.
The Peck Company Holdings, Inc. (NASDAQ: PECK) announced that the merger agreement with Sunworks, Inc. (NASDAQ: SUNW) was terminated due to the latter's failure to obtain stockholder approval. During the special meeting, only 26% of shareholders voted, insufficient for a quorum. Despite approximately 65% of those who voted favoring the merger, Sunworks opted against adjournment. Peck's CEO expressed commitment to exploring alternative collaborations, emphasizing the potential synergies between the two companies.
The Peck Company Holdings (NASDAQ: PECK) reported financial results for Q3 2020, revealing revenue of $5.0 million, a significant decrease of 58% year-over-year. The backlog surged to $56 million, up from $16 million in 2019, driven by new contracts in Vermont, Maine, and Rhode Island. The company recognized a net loss of $0.5 million, leading to an EPS loss of ($0.13). G&A expenses decreased by 27% to $0.7 million, attributed to tighter controls. Despite operational challenges from the COVID-19 pandemic, Peck maintains a positive outlook, anticipating revenue growth as projects resume.
The Peck Company Holdings, Inc. (NASDAQ: PECK) announced contracts totaling $7.641 million for six solar projects with a combined capacity of 10.5 megawatts (MW) in Vermont. Construction has begun on several projects, with completion expected within two quarters. Peck is a leading solar EPC contractor in Vermont, having built over 1/3 of the state's installed capacity. The company aims to enhance its market reach through a business combination with Sunworks, Inc. (NASDAQ: SUNW), aiming to leverage synergies for growth.
