$ATNE Rentech Closes the Sale of Alternative
Post# of 273242
Posted On: 09/14/2016 5:02:03 AM
$ATNE
Rentech Closes the Sale of Alternative Energy Technology Assets
BusinessWire - Tue Nov 04, 6:01AM CST
Rentech, Inc. (NASDAQ:RTK) announced today that it has closed the previously announced sale of its alternative energy technologies to Sunshine Kaidi New Energy Group Co., Ltd. (Kaidi). Rentech received a cash payment of $14.4 million from Kaidi, which is in addition to $0.5 million in cash payments previously received. Kaidi will pay an additional $0.4 million to Rentech to purchase various equipment currently located at Rentech's decommissioned Product Demonstration Unit (PDU), resulting in $15.3 million of total proceeds to Rentech from these transactions. This additional transaction is expected to close before the end of the year.
RTK: 3.24 (-0.17), RNF: 11.41 (-0.22)
Rentech Closes the Sale of Alternative Energy Technology Assets
BusinessWire - Tue Nov 04, 6:01AM CST
Rentech, Inc. (NASDAQ:RTK) announced today that it has closed the previously announced sale of its alternative energy technologies to Sunshine Kaidi New Energy Group Co., Ltd. (Kaidi). Rentech received a cash payment of $14.4 million from Kaidi, which is in addition to $0.5 million in cash payments previously received. Kaidi will pay an additional $0.4 million to Rentech to purchase various equipment currently located at Rentech's decommissioned Product Demonstration Unit (PDU), resulting in $15.3 million of total proceeds to Rentech from these transactions. This additional transaction is expected to close before the end of the year.
RTK: 3.24 (-0.17), RNF: 11.41 (-0.22)
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