Skycorp Solar Skyrockets On $20M Nanjing Cesun Acquisition
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Skycorp Solar Group Ltd (NASDAQ: PN) shares surged 51.66% to $8.22 following the announcement of its acquisition of the remaining 56% of Nanjing Cesun Power for approximately $20.19 million, bringing its total ownership to 100%. The acquisition will be financed through newly issued shares, and the company also secured a $3 million private placement. Skycorp, a solar PV product provider, aims to expand its footprint in the solar and computing hardware markets with this strategic move.
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