PWON News Alert Powin Corp (PWON) 1.7000 02/15/2015 09:47:40
Post# of 64074
Posted On: 02/15/2015 10:47:36 AM
Powin Corp (PWON) 1.7000 $PWON
Powin's subsidiary signs agreement for USD25m investment from SF Suntech
M2 - Mon Aug 11, 7:52AM CDT
A contract manufacturer of OEM parts, Powin Corporation's (OTCQB
WON) wholly-owned subsidiary, Powin Energy Corporation signed an agreement with a wholly-owned subsidiary of Shunfeng Photovoltaic International Limited, SF Suntech Inc, for an investment of USD25m, the company revealed on Saturday.
Powin Corporation Secures $25 Million Investment in Its Energy Storage Technology
Business Wire - Fri Aug 08, 1:52PM CDT
Powin Corporation (OTCQB WON) today announced that its wholly-owned subsidiary, Powin Energy Corporation, has signed an agreement for an investment of $25,000,000 from SF Suntech, Inc., a Delaware corporation ("SF Suntech"
, a wholly-owned subsidiary of Shunfeng Photovoltaic International Limited ("Shunfeng" , pursuant to a Share Subscription Agreement which also granted SF Suntech an option exercisable within two years to acquire another 30% of Powin Energy Corporation for $37,500,000. Pursuant to the terms of the Share Subscription Agreement, $5,200,000 of the $25,000,000 will be used by Powin Energy Corporation to pay off a loan owing to its parent corporation, Powin Corporation, and the balance will be used by Powin Energy Corporation for working capital and other purposes. Pursuant to a related Shareholder Agreement, SF Suntech will appoint four directors from a seven-person board of Powin Energy upon completing the $25,000,000 investment. Powin Corporation will be paying a 6% finder's fee to an unrelated party in connection with this transaction. Subject to the terms and conditions of the Share Subscription Agreement, the transaction is scheduled to close on August 29, 2014.
Powin's subsidiary signs agreement for USD25m investment from SF Suntech
M2 - Mon Aug 11, 7:52AM CDT
A contract manufacturer of OEM parts, Powin Corporation's (OTCQB
WON) wholly-owned subsidiary, Powin Energy Corporation signed an agreement with a wholly-owned subsidiary of Shunfeng Photovoltaic International Limited, SF Suntech Inc, for an investment of USD25m, the company revealed on Saturday. Powin Corporation Secures $25 Million Investment in Its Energy Storage Technology
Business Wire - Fri Aug 08, 1:52PM CDT
Powin Corporation (OTCQB
WON) today announced that its wholly-owned subsidiary, Powin Energy Corporation, has signed an agreement for an investment of $25,000,000 from SF Suntech, Inc., a Delaware corporation ("SF Suntech" , a wholly-owned subsidiary of Shunfeng Photovoltaic International Limited ("Shunfeng" , pursuant to a Share Subscription Agreement which also granted SF Suntech an option exercisable within two years to acquire another 30% of Powin Energy Corporation for $37,500,000. Pursuant to the terms of the Share Subscription Agreement, $5,200,000 of the $25,000,000 will be used by Powin Energy Corporation to pay off a loan owing to its parent corporation, Powin Corporation, and the balance will be used by Powin Energy Corporation for working capital and other purposes. Pursuant to a related Shareholder Agreement, SF Suntech will appoint four directors from a seven-person board of Powin Energy upon completing the $25,000,000 investment. Powin Corporation will be paying a 6% finder's fee to an unrelated party in connection with this transaction. Subject to the terms and conditions of the Share Subscription Agreement, the transaction is scheduled to close on August 29, 2014. 
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