Stock Alert: Peck Company Soars 95% On Deal To Acquire ISun Energy
Shares of Peck Company Holdings, Inc. (PECK), a solar engineering, procurement and construction company, are surging more than 95 percent or $5.86 in Tuesday’s morning trade at $12.01.
Tuesday, Peck and iSun Energy LLC, a provider of solar power, electric mobility and smart city solutions, said they have entered into a binding term sheet under which Peck will acquire iSun in an all-stock transaction.
The transaction is expected to close in January 2021. Upon closing, Peck will change its name to iSun Energy and trade on Nasdaq under the ticker “ISUN”. Peck also said the acquisition is accretive with $2 million near-term revenue commitments.
Peck Company has traded in a range of $1.49 to $14.42 in the past 52 weeks.
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