Electric City Corp. to Acquire Parke P.A.N.D.A. Corporation

Electric City Corp. signed a definitive agreement to acquire Parke P.A.N.D.A. Corporation (Parke Industries), a California-based energy services provider specializing in energy-efficient lighting upgrades. The deal is valued at $3 million cash and $5 million in Electric City common stock, contingent on a $15 million capital raise and other conditions.

“Electric City Corp. (AMEX: ELC) announced today that it entered into a definitive agreement to acquire Parke P.A.N.D.A. Corporation – (which does business under the name Parke Industries), a Glendora, California energy services provider specializing in the design, engineering and installation of energy efficient lighting upgrades for commercial and industrial users.”

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