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JCS Stock: 13 Things for Communication Systems Investors to Know About the Pineapple Energy Merger

Communication Systems (NASDAQ:JCS) stock is on the rise Tuesday after announcing merger plans with Pineapple Energy.

The letters "M&A" on a wooden table, surrounded by a calculator and other business items. mergers and acquisitions

Source: Shutterstock.com

Here’s everything investors in JCS stock need to know about the merger deal.

  • The plan is for a reverse merger that will have a subsidiary of Communication Systems merging with Pineapple Energy.
  • Following this, Pineapple Energy will become a wholly-owned subsidiary of Communication Systems.
  • After that, Communication Systems will change its name to become Pineapple Energy.
  • This will also see shares of JCS stock switch over to the new PEGY stock ticker.
  • The combined company will be lead by a mix of leaders from the two companies.
  • This will have Pineapple Energy CEO Kyle Udseth taking on that same role at the combined company.
  • The same is also true for Communication Systems executive chairman Roger Lacey and CFO Mark Fandrich.
  • Communication Systems is an Internet of Things (IoT) edge products and services company.
  • Pineapple Energy is a company that offers “residential solar, battery storage, and grid services solutions.”
  • When the deal closes, the combined company will focus on the growing home solar market.
  • The deal still needs to complete customary closing conditions before it’s complete.
  • That includes getting approval from regulators and shareholders.
  • So long as there are no problems with this, the deal is set to close in the second quarter of 2021.

JCS stock was up 60.8% as of Tuesday morning and is up 95% since the start of the year.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2021/03/jcs-stock-13-things-for-communication-systems-investors-to-know-about-the-pineapple-energy-merger/.

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