Ecobee & Just EnergyThis information was on 21FY Report on note 9. So, the book value of Ecobee in JE was $32.9 and they sold the shares for $61millions:
9. INVESTMENTS As at March 31, 2021, Just Energy owns approximately 8% (on a fully diluted basis) of ecobee, a private company that designs, manufactures and sells smart thermostats. This investment is measured at and classified as fair value through profit or loss. The fair value of the investment has been determined directly from transacted/quoted prices of similar assets that are not active (Level 3 measurement). As at March 31, 2021, the fair value of the ecobee investment is $32.9 million (2020 — $32.9 million).
The news release said: The ecobee acquisition by Generac is valued at up to $770-million (U.S.), contingent on the achievement of certain performance targets. At closing, Generac will pay the sellers of the ecobee shares an aggregate of $200-million (U.S.) in cash, subject to customary adjustments, along with $450-million (U.S.) in Generac common stock. Additionally, upon achievement of certain performance targets between closing and June 30, 2023, the sellers may receive up to an aggregate of $120-million (U.S.) in shares of Generac common stock.
At closing, Just Energy anticipates receiving approximately $61-million, composed of approximately $18-million in cash and $43-million of Generac stock. Just Energy can receive up to an additional approximate $10-million in Generac stock over calendar 2022 and 2023, provided that certain performance targets are achieved by ecobee. Generac stock trades on the New York Stock Exchange under the symbol GNRC.
Not a bad deal at all. My 1st reaction is: JE is not in PANIC Liquidation. Well, what will be the next News Release...and when??? DYOD & GLTA...may be we can see the light in the tunnel...just hope it is not a train coming!!! Gaillard.