GArnoldo
3 years ago
By my estimation, the Pineapple Energy merger (a solar panel and battery storage installation company that JCS would turn into), which gives each shareholder one CVR (contingent value right) for every 1 share of JCS they own, should pay out at least $1.50 per CVR guaranteed [$10m in legacy cash + $6.8m Minn. bldg. sale distributed among some 9.7m shares outstanding] after the merger is completed (the last remaining detail is to get 3.67% more votes for Proposal #1 on Wed. March 23, 2022). In other words, buying the shares of JCS now, in order to get 1 non-transferable CVR per one share of JCS owned at the time of the merger, is like paying the current $2 per share, and then getting $1.50 per share back a few months later after the fact! Stated another way, it's like paying 50 cents per share (the approx. current $2 share price minus $1.50 CVR payment) to get in on a cutting edge solar company that's growing in Hawaii and that wants to expand to California and across the nation! Sounds like one heck of a deal to me!
RickInv
3 years ago
I have a couple shares of JCS. Is there one or two $3.50 dividends coming up?
This news prompts my question:
"On September 13, 2021, Communications Systems, Inc. (โCSIโ) issued a press release announcing that its board of directors had declared a special dividend of $3.50 per share payable on October 15, 2021, to CSI shareholders of record at the close of business on September 30, 2021. Because the dividend exceeded 25% of the market price on the day we announced the dividend, we have been advised by Nasdaq that the ex-dividend date will be October 18, 2021, the first business day after the October 15, 2021 payment date."
Link: https://www.commsystems.com/2021/09/23/special-dividend-ex-dividend-date-october-18th/
Sinvests
4 years ago
MINNETONKA, Minn.--(BUSINESS WIRE)--Communications Systems, Inc. (NASDAQ: JCS) (โCSIโ or the โCompanyโ), an IoT intelligent edge products and services company, today announced that it entered into a definitive merger agreement with privately held Pineapple Energy, LLC (โPineappleโ), a growing U.S. operator and consolidator of residential solar, battery storage, and grid services solutions. Upon closing, CSI will commence doing business as Pineapple Energy, with a business model focused on the rapidly growing home solar industry. The Company expects shares of the combined company to continue to trade on the Nasdaq Capital Market under the new ticker symbol โPEGY.โ The definitive merger agreement and transaction have been approved by CSIโs Board of Directors and are subject to approval by CSIโs shareholders. The transaction is expected to close in the second quarter of 2021.
Source:
https://www.businesswire.com/news/home/20210302005368/en/Communications-Systems-Inc.-Announces-Agreement-to-Merge-with-Pineapple-Energy-LLC