{"id":784673,"date":"2023-09-18T16:05:54","date_gmt":"2023-09-18T20:05:54","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pineapple-energy-announces-payment-to-cvr-holders-of-1-25-per-cvr\/"},"modified":"2023-09-18T16:05:54","modified_gmt":"2023-09-18T20:05:54","slug":"pineapple-energy-announces-payment-to-cvr-holders-of-1-25-per-cvr","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pineapple-energy-announces-payment-to-cvr-holders-of-1-25-per-cvr\/","title":{"rendered":"Pineapple Energy Announces Payment to CVR Holders of $1.25 per CVR"},"content":{"rendered":"
\n

MINNETONKA, Minn., Sept. 18, 2023 (GLOBE NEWSWIRE) — Pursuant to the merger of Communications Systems Inc. (CSI) and Pineapple Energy, Inc., which was completed on March 28, 2022, CSI shareholders of record at the close of business on March 25, 2022 (the \u201cCVR Holders\u201d) received one contractual, non-transferable contingent value right (\u201cCVR\u201d) per share of CSI common stock. Each CVR represents the right to receive a pro rata portion of proceeds available from the disposition of CSI\u2019s premerger assets during the 24-month period following the effective time of the merger.<\/p>\n

Today Pineapple announced it will make a further payment of proceeds from CSI\u2019s premerger assets of $1.25 per CVR. This payment of $1.25 per CVR is not a taxable event. Please refer to Pineapple\u2019s IRS Form 8937 posted at https:\/\/ir.pineappleenergy.com\/financial-information\/cvr<\/a> and Pineapple\u2019s March 29, 2023 Form 8-K Report providing \u201cImportant Information for Holders of Contingent Value Rights\u201d which is posted at https:\/\/ir.pineappleenergy.com\/sec-filings\/all-sec-filings\/content\/0000897101-23-000130\/pegy230377_8k.htm<\/a> for more information.<\/p>\n

We expect that the $1.25 per CVR payment to the CVR Holders will commence by September 29, 2023.<\/p>\n

\n

\n Contacts:<\/strong>\n <\/p>\n

Pineapple Energy
Kyle Udseth
Chief Executive Officer
+1 (952) 996-1674
Kyle.Udseth@pineappleenergy.com<\/p>\n

Eric Ingvaldson
Chief Financial Officer
+1 (952) 582-6417
Eric.Ingvaldson@pineappleenergy.com<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

MINNETONKA, Minn., Sept. 18, 2023 (GLOBE NEWSWIRE) — Pursuant to the merger of Communications Systems Inc. (CSI) and Pineapple Energy, Inc., which was completed on March 28, 2022, CSI shareholders of record at the close of business on March 25, 2022 (the \u201cCVR Holders\u201d) received one contractual, non-transferable contingent value right (\u201cCVR\u201d) per share of CSI common stock. Each CVR represents the right to receive a pro rata portion of proceeds available from the disposition of CSI\u2019s premerger assets during the 24-month period following the effective time of the merger. Today Pineapple announced it will make a further payment of proceeds from CSI\u2019s premerger assets of $1.25 per CVR. This payment of $1.25 per CVR is not a taxable event. … <\/p>\n

Continue reading “Pineapple Energy Announces Payment to CVR Holders of $1.25 per CVR”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-784673","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPineapple Energy Announces Payment to CVR Holders of $1.25 per CVR - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pineapple-energy-announces-payment-to-cvr-holders-of-1-25-per-cvr\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pineapple Energy Announces Payment to CVR Holders of $1.25 per CVR - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"MINNETONKA, Minn., Sept. 18, 2023 (GLOBE NEWSWIRE) — Pursuant to the merger of Communications Systems Inc. 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