Tesla & SolarCity Announce November 17 Date For Acquisition Meeting

OCT 12 2016 BY MARK KANE 3

SolarCity Missing?

SolarCity Missing? (image via TeslaMondo)

SolarCity and Tesla - Bringing sexy back to solar...apparently

SolarCity and Tesla – Bringing sexy back to solar…apparently

Tesla Motors and SolarCity set November 17, 2016 as the date of its shareholder meeting to vote on the merger under Tesla’s name.

Prior to the voting, both companies intend to present new joint products on October 28th:

  • a solar roof
  • Powerwall 2.0

Additionally, on November 1st there will be released financial information relating to plans for the combined company.

Here’s the announcement from Tesla in its entirety:

Update on Tesla’s Combination with SolarCity

Today, Tesla and SolarCity took another significant step towards combining the companies. Each company set November 17, 2016 as the date of its shareholder meeting to vote on the acquisition and final proxy materials are now being mailed to each company’s shareholders.

If shareholders approve the transaction, a combined Tesla and SolarCity will be able to provide the first ever opportunity to generate, store and consume energy entirely sustainably, through a suite of integrated products that add aesthetics and function while reducing cost. By leveraging SolarCity’s installation network and Tesla’s global retail footprint, we can do this in a way that is seamless for our customers and that we expect will create significant value for our shareholders.

Over the next few weeks, Tesla will share important updates regarding our strategic plan for the combined company. On October 28th, Tesla and SolarCity will unveil a solar roof product, which along with Powerwall 2.0, will show the kinds of products that the combined company will be able to create. And on November 1st, Tesla will provide additional financial information relating to its plans for the combined company.

These events will create a clear picture of how a combined Tesla and SolarCity will make solar and storage as compelling as electric vehicles – an achievement that would advance our mission of accelerating the world’s transition to sustainable energy.

If you are a Tesla shareholder, we encourage you to vote your shares as part of this process. Any Tesla shareholder who owned shares as of September 23, 2016 is eligible to vote and will receive mailed instructions on how to do so in the coming days. You can vote by phone, online or via mail any time on or before November 16, 2016, although we strongly encourage you to vote as soon as possible. The process for voting may differ depending on how you hold your shares, so please carefully review and follow the specific voting instructions on the proxy card that you receive.

If you have questions about voting your Tesla shares, please contact Innisfree, which is assisting Tesla in connection with the vote, toll-free at 877-456-3463. Shareholders outside the United States may call + 1 412-232-3651.

Thank you to all of our shareholders for your support over the years. The Tesla board and management hope that you will join us in supporting the combination of Tesla and SolarCity.

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3 Comments on "Tesla & SolarCity Announce November 17 Date For Acquisition Meeting"

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Hey, I have my proxy but what am I supposed to do with all these roof shingles?

Solar Shingles are silly IMHO.

Unless it is cheaper than shingles and/or cheaper to install than comparable solar panels, there is very little benefit to it.

Sure, it might look better, but looks of the roof is far less consequential than cars in my opinion. My house is ugly, but I bought it anyway because it is affordable and it got the space for it. Most of the time, I only saw the inside of it.

Also, many roofs are partially shaded or don’t situate perfectly for solar, so those areas will have to be wasted or covered by traditional shingles. That creates installation and replacement issues.

But I am sure few rich Tesla owners would love to have the “Tesla” branded life styles for any price.

But as a Solar City Bond holder, I hope it gets approved so my Bond would be far more secure than ever before. =)

Elon understands just how dire the situation with climate change is and he is producing solutions to the fossil fuel problem.