Nexentis Shares Rise After Solar Project Monetisation Agreement (NXTS)

Nexentis Technologies Inc. (NASDAQ:NXTS) shares advanced 10% on Monday after the company announced the partial monetisation of its investment in the Melz solar project in Germany, based on a project valuation of US$14.5 million.

The drug discovery company, which also maintains investments in renewable energy assets, has signed an addendum to its Loan and Partnership Agreement with Solterra Renewable Energy Ltd. and the project's lending group. The revised agreement values the Melz solar photovoltaic development at US$14.5 million, representing an uplift from Nexentis' original investment.

As part of the agreement, Nexentis will receive an early repayment of approximately US$147,000, including accrued interest, on its share of the project loan.

The company will also receive US$98,000 from the sale of 10% of its profit rights, equivalent to a 2.5% interest in the project's future profits. In addition, Nexentis will collect a further US$22,000 as an option fee granting the purchaser the right to acquire its remaining profit rights once the project reaches Ready-to-Build (RTB) status, based on an independent valuation carried out by a Big Four accounting firm.

The updated agreement

Fuente original: Yahoo Finance (https://finance.yahoo.com/energy/articles/nexentis-shares-rise-solar-project-141045336.html)