ALPHA SOLARCO/SOLECTRIC REGISTRATION EFFECTIVE
ALPHA SOLARCO/SOLECTRIC REGISTRATION EFFECTIVE CINCINNATI, July 20 /PRNewswire/ -- Alpha Solarco, Inc.
(NASDAQ: ASCO) announced today that its registration statement covering approximately 20,000,000 shares of common stock to be issued to shareholders of Solectric Corporation in connection with Solectric's merger into Alpha Solarco had been declared effective by the Securities and Exchange Commission on July 16, 1992. Alpha Solarco further announced that a Proxy Statement/Prospectus seeking shareholder approval of the merger would be mailed within the next week and that Solectric and Alpha Solarco shareholders would meet to consider the transaction in shareholder meetings scheduled for Aug. 27.
The merger, which provides for the issuance of one new Alpha Solarco share for each outstanding Solectric share, was originally announced in September 1990. Alpha Solarco is a 31 percent shareholder of Solectric. Edward C. Schmidt, president of both companies, stated that the merger would enable the companies to reduce their combined operating expenses and would permit them to concentrate on commercializing the utility scale solar powered electrical generation equipment which is presently being pursued by a joint venture between the companies. -0- 7/20/92 /CONTACT: Edward C. Schmidt, president of Alpha Solarco, 513-771-1690/ (ASCO) CO: Alpha Solarco ST: Ohio IN: SU: TNM
BM -- CL014 -- 0712 07/20/92 12:00 EDT
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|Date:||Jul 20, 1992|
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