(Investorideas.com
Newswire) a go-to platform for big investing ideas, including
renewable and solar stocks, issues a news and trading alert for
Skycorp Solar Group Limited (NASDAQ: PN), a solar PV product provider engaged in the manufacture and sale of
solar cables and solar connectors.
The stock makes the Nasdaq top percentage gainers list following
news, currently trading up over 77% on a volume of over 37 million
shares.
Skycorp Solar announced the signing of a Share Acquisition Agreement
(the “Agreement”) on April 30, 2026, to acquire the
remaining 56% equity interests in Nanjing Cesun Power Co., Ltd.
(“Nanjing Cesun” or the “Target”). Additionally, the company
announced it has entered into definitive Securities Purchase
Agreements (the “Agreements”) with three independent
institutional investors to raise an aggregate of USD 3,000,000 in a
private placement (PIPE) transaction.
Acquisition of Nanjing Cesun
Prior to this transaction, Skycorp held a 44% equity interest in
Nanjing Cesun through its wholly-owned subsidiary, PN Sunshine Pte.
Ltd. Upon closing, Skycorp will effectively hold and consolidate
100% of the Target. Nanjing Cesun is a comprehensive renewable
energy company engaged in server equipment sales, inverter
production, photovoltaic (PV) power station operation, and energy
management systems. This acquisition seamlessly integrates Nanjing
Cesun’s robust operations and revenues into Skycorp’s expanding
portfolio.
Under the terms of the Agreement, the aggregate consideration for
the 56% equity interest is USD 20,194,720. The consideration will be
satisfied through the issuance of 7,983,000 newly issued Skycorp
ordinary shares, comprised of Class A and Class B shares. The share
issuance price was determined to be USD 2.5290 per share, based on
the arithmetic average of the daily closing prices of the company’s
ordinary shares on the Nasdaq Capital Market over a 10-day trading
period from April 17 through April 30, 2026. The transaction implies
a 100% enterprise valuation of Nanjing Cesun at USD 36,062,000,
supported by an independent valuation report prepared by an
independent third-party valuation firm.
The 56% equity interest is being acquired from two selling parties:
Huang Weiqi and EZPower Limited. Mr. Huang directly holds a 20%
equity interest in the target and serves as the Chief Executive
Officer and a director of Skycorp. EZPower Limited is a British
Virgin Islands (BVI) entity holding the remaining 36% equity
interest in the Target. The ultimate beneficial economic interests
in EZPower are held by Mr. Huang (40%), He Xiaoer (25%), Zhang
Gaokui (25%), and Lin Xiaobo (10%). Because Mr. Huang is the CEO of
Skycorp and has a direct and material economic interest in the
selling entities, this acquisition constitutes a related-party
transaction. Consequently, the transaction was independently
reviewed, negotiated, and unanimously approved by the audit
committee of independent directors to ensure fairness to the company
and its public shareholders.
To align with long-term shareholder value, the newly issued
consideration shares are subject to strict lock-up agreements:
The 4,904,000 Class B ordinary shares issued directly or
beneficially to Mr. Huang are subject to a 24-month lock-up period
commencing from the Closing Date.
The 3,079,000 Class A ordinary shares issued to EZPower Limited for
the benefit of its other beneficial owners (He Xiaoer, Zhang Gaokui,
and Lin Xiaobo) are subject to a 6-month lock-up period.
The transaction is subject to customary closing conditions,
including board authorization, the delivery of duly executed PRC
instruments of equity transfer, execution of lock-up consents by all
beneficial owners, and the prompt commencement of a comprehensive
full audit of Nanjing Cesun to be completed within 90 days following
the closing.
Research renewable energy stocks at
Investorideas.com
https://www.investorideas.com/Companies/RenewableEnergy/stock_list.asp
