P10 INDUSTRIES INC COM USD0.001 (OTCMKTS:PIOE) Shares Run Hard on Acquisition News

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Shares of P10 INDUSTRIES INC COM USD0.001 (OTCMKTS:PIOE) spiked considerably, and out of the blue, following the company’s first press release update since it appointed a new board member back in August. The PPS over that same period had a tough time gaining any traction, but we’re seeing a sharp rise in activity to close out the trading week that will have the stock on our radars moving forward.

P10’s current business commenced on November 19, 2016, following completion of an asset acquisition of its Active Power assets by Piller Power Systems, Inc. Active Power changed its name to P10 Industries pursuant to the terms of the acquisition agreement.

This week P10 INDUSTRIES INC COM USD0.001 (OTCMKTS:PIOE) announced it has closed on the acquisition of RCP Advisors 2, LLC, and entered into a purchase agreement to acquire RCP Advisors 3, LLC, in January 2018. RCP Advisors is a sponsor of private equity funds-of-funds, secondary funds, co-investment funds, and also provides advisory and research services.

 

RCP Advisors received 44,171,233 newly issued shares of P10 (representing approximately 49% of P10 outstanding shares), alongside cash and seller notes. RCP Advisors will operate as a wholly owned subsidiary of P10 and will continue to be managed by its existing team.

“We are excited to announce the acquisition of RCP Advisors, further building on our commitment to create shareholder value over time”, said Mark A. Ascolese CEO of P10 Industries. “As P10 embarks on its next phase of growth, I am excited to hand over the CEO duties to Robert H. Alpert and C. Clark Webb.”

Alongside the acquisition, Board Members Mark A. Ascolese and Daryl Dulaney are stepping down, replaced by Co-Founders and Managing Partners of RCP Advisors, William “Fritz” Souder and Jeff Gehl.

“We cannot thank Mark and Daryl enough for their leadership, vision, and commitment to creating long-term shareholder value,” said Co-CEOs Robert H. Alpert and C. Clark Webb. “Mark and Daryl have been integral to this process, and we wish them continued success in their future endeavors.” (Source:

P10 (Active Power) offers power solutions using flywheel technology for data centers, health care, and industrial and manufacturing, which deliver ~40% lower total cost of ownership, are ~12 times less likely to fail, and reduce environmental impact by ~90%. These benefits enable Active Power customers to achieve their budget, availability, and sustainability goals. Active Power’s CleanSource flywheels balance weight, size, speed, stress, and material strength to support a stored energy and cost profile optimized for its target markets. The system integrates a motor, flywheel energy storage, and generator into an elegant and economical solution.

 

The best demonstration of the value offered is evidenced by the company’s customer base that places trust in Active Power and its technology to protect their most mission critical operations. More than 5,000 Active Power flywheels have been deployed in over 50 countries, delivering more than 900 megawatts of critical power protection.

As we mentioned above, the stock is really getting some legs for the first time in quite awhile. The highs that PIOE are presently achieving represent all-time highs for the stock. Being firmly in Blue Sky territory, we’ll be very anxious to begin following the story moving forward. We’ll stay up on any further developments with PIOE and pass them along to you! Stay locked on StreetRegister.com and be sure you’re signed up for our 100% free smallcap newsletter. It’s as easy as that! Simply submit your primary active email address in the box below. Subscribe now!

Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in PIOE stock, short or long.

 

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