Str Holdings Inc (STRI) Social Stream

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$STRI H.B. Fuller acquired all of the assets of the U.S.-based solar encapsulant business, and assumed certain liabilities related to business. The purchase price was $6.245 million (after working capital adjustments) in cash plus a contingent payment of up to $1.7 million. $800,000 of the base purchase price was held back to satisfy any potential indemnification obligations. The contingent payment depends on Fuller receiving at least one payment from a certain customer with respect to the sale of certain products before February 15, 2022. The contingent payment is reduced by $340,000 each month after October 15, 2021 that the contingency isn't met. CEO Yorgensen will apparently receive a severance payment of $950,000.

http://ir.strsolar.com/static-files/bc646ed2-0407-4ff7-bc8d-439a41f3ccc0