NEW YORK, Jan. 3, 2017
/PRNewswire/ -- Tripp Levy PLLC, a leading national securities and
shareholder rights law firm, announces that it is investigating the
potential sale of American DG Energy Inc. (NYSE: ADGE) ("American
DG" or the "Company") on behalf of its shareholders. Tecogen
Inc. and American DG announced that Tecogen will acquire all of the
outstanding shares of American DG in a stock-for-stock merger. Each
share of American DG common stock will be exchanged for 0.092
shares of Tecogen common stock. Upon closing of the
transaction, Tecogen shareholders are expected to own approximately
81% and American DG shareholders are expected to beneficially own
approximately 19% of the combined company
The combined company will retain the Tecogen Inc. name and be
led by Co-Chief Executive Officers John
Hatsopoulos and Benjamin
Locke. John Hatsopoulos, is the co-founder,
co-CEO, and director of both Tecogen and American DG.
Our investigation has determined that the offer price unfairly
under-values the true going forward inherent value of American DG
and that shareholders may not be receiving the maximum value for
their shares. Indeed, the book value per share of the Company
is worth $0.39 per share, and the
stock traded as high as $0.65 per
share within the past year. The investigation further seeks
to determine whether John
Hatsopoulos is entering into this deal for his own
self-interests to the detriment of the Company's shareholders, and
whether there is an inherent conflict of interest among the board
of directors of the Company.
If you are a shareholder of American DG and would like
additional information as to how the proposed acquisition may
affect your rights as a shareholder, and how you may be eligible to
obtain a higher price for your shares, please contact us at no cost
at:
Tripp Levy PLLC
New York, New York
Toll free: 800-511-7037
International: 602-241-2841
Email: contact@tripplevy.com
www.tripplevy.com
Tripp Levy PLLC represents individual and institutional
shareholders in mergers and acquisitions transactions and has
assisted in the recovery of billions of dollars for shareholders in
securities actions around the globe.
Attorney advertising. Prior results do not indicate a
similar outcome
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SOURCE Tripp Levy PLLC