Aug. 14 at 1:29 AM
$BESS At
$3.65, the market cap of BESS is about Million.
Yet BESS just announced an
$8.9M transaction involving:
100 MW / 400 MWh Redbird
Two (2) otherTexas projects totaling 80 MWh
$6.4 Million cash received
Another
$2.5M to follow tied to milestones
Retained 7.5% ownership
Institution buyer affiliated with Cerberus Capital Management
The projects closed July 15, so the financial impact will not be in tomorrow's earnings report, but most likely mentioned in the Corporate Developments Subsequent to End of Quarter. (JMO)