Attached files
file | filename |
---|---|
10-K - ACORN ENERGY, INC. | v177974_10k.htm |
EX-21.1 - ACORN ENERGY, INC. | v177974_ex21-1.htm |
EX-32.1 - ACORN ENERGY, INC. | v177974_ex32-1.htm |
EX-32.2 - ACORN ENERGY, INC. | v177974_ex32-2.htm |
EX-31.2 - ACORN ENERGY, INC. | v177974_ex31-2.htm |
EX-23.1 - ACORN ENERGY, INC. | v177974_ex23-1.htm |
EX-31.1 - ACORN ENERGY, INC. | v177974_ex31-1.htm |
EX-10.52 - ACORN ENERGY, INC. | v177974_ex10-52.htm |
EX-10.51 - ACORN ENERGY, INC. | v177974_ex10-51.htm |
EX-10.53 - ACORN ENERGY, INC. | v177974_ex10-53.htm |
Exhibit 10.50
|
October
29, 2009
Mr.
Lindon Shiao
President
and CEO
Gridsense
Pty Ltd
2568
Industrial Blvd., Suite 100
West
Sacramento, CA 95691
Dear
Lindon:
This
Letter of Intent sets forth certain binding understandings and agreements
between Acorn Energy, Inc., a Delaware corporation (“Buyer”), and, Gridsense Pty
Ltd, a registered company under the Australian Corporations Act of 2001 and
taken to be registered in Victoria, Australia, (together with its subsidiaries
and the principal shareholders of Gridsense Pty Ltd (“GPL”) who have executed
this Letter of Intent (collectively, “Seller”), regarding the acquisition by
Buyer of all of the issued and outstanding shares of GPL not otherwise owned by
Buyer including any shares resulting from conversion of SCRN debt issued by GPL
as described below (the “Shares”) and GPL’s existing debt owed to note holders
other than Buyer (known as “SCRN”) in the aggregate principal amount of US
$1,128,339 together with accrued and unpaid interest (the “GPL Debt”) as further
described in this Letter of Intent (the “Transaction”). Buyer and its counsel
shall be responsible for preparing an initial draft of the definitive
acquisition agreement (the “Definitive Agreement”), which shall contain
customary representations, warranties, covenants, conditions and indemnities,
and such other related documents as may be necessary or
appropriate.
Binding Letter of
Intent. The parties have entered into this Letter of Intent
desiring to set forth their understandings and agreements relating to the
transaction described below, and realizing that time is of the essence the
parties intend for this Letter of Intent to be binding and for the parties to be
bound by the understandings and agreements set forth
below. Therefore, for and in consideration of the premises and other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows.
|
1.
|
Basic Transaction
Structure. The shareholders of GPL other than Buyer (the “GPL
Shareholders”) will sell all of their Shares constituting all of the
issued and outstanding shares of GPL other than those shares owned by
Buyer and all of their GPL Debt, to Buyer in accordance with the terms of
this Letter of Intent. Seller may effect the acquisition of the Shares by
means of a merger, direct acquisition or other transaction structure as
determined by Buyer in its sole discretion. Buyer shall use its good faith
efforts to structure the acquisition of the Shares and GPL Debt such that
it will constitute a tax-free reorganization if possible and practicable
for Buyer to do so.
|
4 W.
Rockland Road, P.O. Box 9, Montchanin, DE 19710 www.acornenergy.com Tel:
(302) 656-1707 Fax: (302) 656-1703
2.
|
Consideration. The
consideration to be provided by Buyer to the GPL Shareholders for the
Shares will be comprised of (a) an amount equal to US $4,383,720
multiplied by a fraction, the numerator of which is the number of Shares
and the denominator of which is the total number of issued and outstanding
shares of GPL at Closing (the “Ownership Fraction”), payable at Closing as
set forth below, and (b) an earnout amount equal to the gross sales of GPL
for the 2010 calendar year which are in excess of US $4,383,720 (the
“Incremental Sales Increase”) multiplied by 50% and further multiplied by
the Ownership Fraction, but such amount would be capped at an amount equal
to US $2,435,400 multiplied by the Ownership Fraction, and payable as soon
as the Incremental Sales Increase can be reasonably determined by Buyer’s
auditor as set forth below but in no event prior to the date of Buyer’s
auditor’s report related to the consolidated financial statements of Buyer
for the year ending December 31, 2010 that are included in Buyer’s Form
10-K and filed with the U.S. Securities and Exchange Commission for such
year. For illustrative purposes only, the calculation of the earnout is
illustrated as follows (all figures
US):
|
|
A.
|
2010
GPL gross sales - $9,000,000
|
|
·
|
$9,000,000
|
-4,383,720
$4,616,280
|
·
|
$4,616,280
x 50% x 35,202,812/50,917,097
= $1,595,790
|
|
·
|
Maximum
amount of earnout is:
|
$2,435,400
x 35,202,812/50,917,097 =
$1,683,836
|
·
|
Earnout
is $1,595,790
|
|
B.
|
2010
GPL gross sales - $10,000,000
|
|
·
|
$10,000,000
|
-4,383,720
$ 5,616,280
|
·
|
$5,616,280
x 50% x 35,202,812/50,917,097
= $1,941,548
|
|
·
|
Maximum
amount of earnout is:
|
$2,435,400
x 35,202,812/50,917,097 =
$1,683,836
|
·
|
Earnout
is $1,683,836
|
2
The
consideration to be furnished by Buyer to the GPL Shareholders for the GPL Debt
will be US $1,128,339 plus the accrued and unpaid interest as of the date of
Closing. One-half of such consideration for the GPL Debt will be payable in
shares of common stock of Buyer as described below, and one-half of such
consideration will be paid in cash at Closing.
Sales,
the dollar amount of the consideration and other figures will be based upon US
currency using the currency conversion rates effective October 16, 2009 as shown
on Exhibit A
attached hereto unless otherwise stated in this Letter of Intent and US GAAP,
and any adjustments and conversions will be made in accordance with US GAAP. The
consideration to be furnished at Closing for the Shares and one-half of the GPL
Debt will be in shares of common stock of Buyer as traded on the NASDAQ Global
market, symbol ACFN (the “Buyer Shares”), and the number of Buyer Shares to be
furnished at Closing by Buyer to the GPL Shareholders will be determined and
based on a per share price of $5.91 being the volume weighted average price of
Buyer’s common stock on the NASDAQ Global Market during the twenty trading
sessions that ended on October 16, 2009 (see calculation on Exhibit A). The
earnout portion of the consideration to be furnished under clause (b) above
would be provided in cash or Buyer Shares or any combination thereof at Buyer’s
discretion (provided, however, Buyer will give good faith consideration to the
combination of cash and/or Buyer Shares to be provided in payment of the earnout
as requested by the GPL Shareholders), and the number of Buyer Shares, if any,
to be furnished under clause (b) above will be determined and based on the
volume weighted average price of Buyer’s common stock on the NASDAQ Global
Market during the 20 trading sessions that end on the day of the date of Buyer’s
auditor’s report related to the consolidated financial statements of Buyer for
the year ending December 31, 2010 that are included in Buyer’s Form 10-K and
filed with the U.S. Securities and Exchange Commission for such
year.
The Buyer
Shares issued in consideration for both the Shares and the GPL Debt will be
subject to escrow and a lock-up agreement providing for the escrow and lock-up
of 50% of such shares for six months following the date of issuance and 50% of
such shares for 12 months following the date of issuance.
3.
|
Bridge
Loan. In connection with this Letter of Intent, Buyer
has made a bridge loan to GPL in the amount of US $550,000 with an annual
interest rate of 8% per annum and a term of 24 months (the “Bridge
Loan”). Of such Bridge Loan $500,000 will be used by GPL for
working capital, and $50,000 (AUD $54,387) will be used by GPL to promptly
pay down debt owed to Keenan Campbell as described
below.
|
In the
event the Transaction does not close or is terminated, then Buyer at Buyer’s
sole discretion may declare the unpaid principal and accrued interest of the
Bridge Loan together with the US $730,620 debt (principal amount) plus accrued
and unpaid interest owed by GPL to Buyer immediately due and payable or convert
such debt (including accrued and unpaid interest) to shares of GPL equal in all
rights and other respects with the GPL Shares using a conversion price as
described below.
3
In the
event Buyer terminates negotiations or does not close due to a material
adversity or adversities discovered by Buyer in its due diligence or such occurs
prior to Closing (and as so determined by Buyer in its sole good faith
discretion) or GPL breaches any of its obligations under this Letter of Intent
or the Definitive Agreement, or GPL terminates negotiations of this Transaction
or refuses to close for any reason other than a breach by Buyer of its
obligations under this Letter of Intent or the Definitive Agreement, then the
conversion price will be CDN $0.038 per GPL share.
In the
event Buyer terminates negotiations of this Transaction or does not close due to
any other reasons or GPL terminates negotiations of this Transaction or refuses
to close due to a breach by Buyer of its obligations under this Letter of Intent
or the Definitive Agreement, then the conversion price will be CDN $0.125 per
GPL share.
4.
|
Further
Investment. Buyer will, in the event of Closing, provide GPL with
additional working capital up to US $2,000,000 in the form of equity or
debt in the sole discretion of Buyer as well as cash equity sufficient to
enable GPL to satisfy its obligation to Keenan Campbell as described in
Section 6(h) below.
|
5.
|
Noncompetition
Agreements. At the Closing Lindon Shiao, Kevin Anderson, Doug McKay
and other executives and employees of GPL determined to be important to
GPL’s business by Buyer in its sole discretion (the “Business”) will
execute three-year noncompetition agreements (covering the period of
employment and three years thereafter) in favor of Buyer. The agreements
would also prohibit such executives and employees from soliciting
employees and customers of Seller and would include restrictions on
disclosing confidential information and assignment of inventions and
intellectual property.
|
6.
|
Conditions. Consummation
of the Transaction is conditioned
upon:
|
|
a.
|
Completion
of due diligence investigation, satisfactory to Buyer in its sole
discretion, of (i) the business, operations and capabilities of Seller,
(ii) the financial books and records of Seller, (iii) ongoing contracts
with third parties, and (iv) such other matters relating to the operation
and capabilities of Seller as Buyer deems appropriate, all to be completed
within 90 days of the date of execution of this Letter of
Intent;
|
|
b.
|
Negotiation
and execution of a Definitive
Agreement;
|
|
c.
|
Absence
of any material adverse change in Seller’s business, financial condition,
prospects, assets or operations since December 31,
2008;
|
|
d.
|
Absence
of pending or threatened litigation regarding the Definitive Agreement or
the transactions to be contemplated
thereby;
|
|
e.
|
Delivery
of customary legal opinions, closing certificates and other
documentation;
|
4
|
f.
|
Receipt
of any other governmental, environmental, regulatory or third party
consents and approvals required in connection with the Definitive
Agreement and the transactions contemplated
thereby;
|
|
g.
|
Receipt
of the approval of the Transaction by the Boards of Directors of Buyer and
Seller and the GPL Shareholders;
|
|
h.
|
In
addition to other customary closing conditions, GPL will cause the
following to occur prior to Closing: (i) the royalty payment percentage
payable by GPL to Kevin Anderson will be reduced from 12% to 6% and GPL
will issue to Kevin Anderson or his designee 400,000 shares of GPL, and
(ii) the debt (inclusive of principal and accrued and unpaid interest) of
AUD $1,400,000 (US $1,287,076) owed by GPL to Keenan Campbell will be
reduced to AUD $700,000 (US $643,538) of which amount AUD $645,613 (US
$593,538) will be payable by GPL to Keenan Campbell at Closing (such debt
having been paid down with the payment of AUD $54,387 (US $50,000) earlier
paid by GPL to Keenan Campbell per Section 3
above);
|
|
i.
|
GPL
covenants and agrees to provide Buyer with audited financial statements
which are in compliance with U.S. Securities and Exchange Commission
reporting requirements for the year ended December 31, 2009 within 45 days
following Closing; and
|
|
j.
|
Execution
of this Letter of Intent and the Definitive Agreement by the number of
shareholders of GPL required by Australian law and GPL’s constitution and
other corporate documents to make this Letter of Intent and the Definitive
Agreement binding and enforceable as to GPL and all of GPL’s
Shareholders.
|
7.
|
Timing. The
Closing will occur on or about January 5, 2010 subject to the terms of
this Letter of Intent and the Definitive
Agreement.
|
8.
|
Exclusive
Dealings. In consideration of the time, effort and other
expense by each of the parties in connection with the Bridge Loan made by
Buyer to GPL and the negotiation of this Letter of Intent and the
Definitive Agreement, Seller and the GPL Shareholders agree that they will
not, after the date of the acceptance of this Letter of Intent and until
the later of (i) 90 days after the date of acceptance of this Letter of
Intent and (ii) the date either party terminates this Letter of Intent in
accordance with Section 14 below (the “Termination Date”), solicit or
encourage any offer, proposal or inquiry from, or engage in any
discussions or negotiations with, any person regarding the sale or lease
of any material part of the Business or of the GPL Shares and GPL Debt or
any equity interests in Seller or the merger or consolidation of Seller
except as contemplated by this Letter of Intent. Seller shall
immediately notify Buyer regarding any contact between Seller or its
representatives and any other person regarding any such offer or proposal
or related inquiry. The Definitive Agreement shall also provide
for a period of exclusive dealing until the Closing occurs. Seller and the
GPL Shareholders represent that neither they nor any of their affiliates
are party to or are bound by any agreement with respect to any transaction
of the type described in this paragraph other than as contemplated by this
Letter.
|
5
9.
|
Access; Due
Diligence. Seller shall permit Buyer and its counsel,
accountants and other representatives full access during normal business
hours to all the properties, assets, books, records, agreements and other
documents of Seller. Seller shall furnish to Buyer and its
representatives all information concerning the Business as Buyer may
request. Seller shall permit and facilitate communications
between Buyer and Seller’s suppliers, customers, landlords and other
persons having relationships with the
Business.
|
10.
|
Disclosure. Except
as and to the extent required by law and applicable securities,
regulations and market exchange rules and regulations, without the prior
written consent of the other party, neither Buyer nor Seller shall, and
each shall direct its representatives not to, directly or indirectly, make
any public announcement of, or otherwise disclose or permit the disclosure
of, the parties’ negotiations, the signing of this Letter of Intent or any
of the terms, conditions or other aspects of the transactions proposed in
this Letter of Intent.
|
11.
|
Confidentiality.
Except as and to the extent required by law and applicable securities,
regulations and market exchange rules and regulations, Buyer shall not
disclose or use, and shall cause its representatives not to disclose or
use, any Confidential Information (as defined below) with respect to
Seller furnished, or to be furnished, by Seller or its respective
representatives to Buyer or its representative in connection herewith at
any time or in any manner other than in connection with the
Transaction. For purposes of this Section, “Confidential
Information” means any information about Seller stamped “confidential” or
identified in writing as such to Buyer by Seller; provided that it does
not include information which Buyer can demonstrate (i) is generally
available to or known by the public other than as a result of improper
disclosure by Buyer or (ii) is obtained by Buyer from a source other than
Seller, provided that such source was not bound by a duty of
confidentiality to Seller or another party with respect to such
information. If this Letter of Intent is terminated pursuant to
Section 14 below, Buyer shall promptly either destroy all Confidential
Information in its possession or return to Seller any Confidential
Information in its possession. If either party shall be
required to make disclosure of any such information by operation of law,
such disclosing party shall give the other party prior notice of the
making of such disclosure and shall use all reasonable efforts to afford
such other party an opportunity to contest the making of such disclosure.
In the event that the Closing shall not occur, each of Buyer and Seller
shall immediately destroy or deliver, or cause to be delivered, to the
other (without retaining any copies thereof) any and all documents,
statements or other written information obtained from the other that
contain confidential information. The parties acknowledge and agree that
the provisions of this paragraph are necessary for the protection of the
other’s confidential information, its business and goodwill, its
competitive position, and its legitimate business interests and that such
provisions are reasonable for such purposes. The parties
acknowledge and agree that any breach of any covenant contained in this
paragraph will cause irreparable injury and damage to the other party, as
to which money damages alone would not adequately compensate the
non-breaching party. Accordingly, the parties consent, in the
event of any breach of the covenants contained in this paragraph, to the
granting of preliminary and permanent injunctive relief against any
continuing breach, in addition to and not in limitation of any other
rights, remedies, or damages available to the non-breaching party at law
or in equity.
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6
12.
|
Conduct of
Business. During the period from the date this Letter is signed by
Seller and the Termination Date, Seller shall operate its business in the
ordinary course, shall refrain from extraordinary transactions and
shall:
|
|
a.
|
Conduct
the operations of the Seller in the normal and customary manner in the
ordinary course of business;
|
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b.
|
Maintain
and keep the tangible assets, and any tangible assets leased under leases
to be assumed by Buyer, in good operating order, repair and
condition;
|
|
c.
|
Keep
in full force and effect all insurance
coverage;
|
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d.
|
Perform
all of Seller’s obligations under all contracts and leases, and not
amend, alter or modify any provision
thereof;
|
|
e.
|
Use
its best efforts to preserve Seller’s organization intact and maintain its
relationships with its employees, suppliers and
customers;
|
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f.
|
Promptly
advise Buyer of any adverse change in the condition (financial or
otherwise) of Seller’s business or
assets;
|
|
g.
|
Promptly
advise Buyer of the occurrence of any event or circumstance which affects
the consummation of the transactions contemplated by this Letter of
Intent;
|
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h.
|
Not
create or permit to exist any security interest, mortgage, pledge, lien,
charge, encumbrance, easement, restrictive covenant or adverse claim of
any kind or nature with respect to any of the Seller’s
assets;
|
|
i.
|
Not
sell or dispose of any assets, except in the ordinary course of
business;
|
|
j.
|
Promptly
advise Buyer of any material change in the identity of or compensation
payable to any of Seller’s
employees;
|
|
k.
|
Not
make any capital improvement or
expenditure;
|
|
l.
|
Maintain
and collect receivables and extend credit terms to its customers in the
ordinary course of business consistent with past
practices;
|
|
m.
|
Amend
the constitution, articles or certificate of incorporation or bylaws of
Seller;
|
|
n.
|
Pay
any dividends to the shareholders of
Seller;
|
7
|
o.
|
Take
any action which is inconsistent with the tax or accounting treatment
described above;
|
|
p.
|
Issue
any shares of stock of the Seller, any securities convertible into stock
of the Seller or any options or other rights to acquire any such
securities or issue any debt
instruments;
|
|
q.
|
Effect
a recapitalization; or
|
|
r.
|
Agree
to do any of the foregoing.
|
13.
|
Costs. Each
of Seller and Buyer will pay its own direct costs and expenses, including
the fees of attorneys, accountants, brokers and other advisors, incurred
at any time in connection with the transactions contemplated herein.
Seller and the GPL Shareholders will pay all sales, use and transfer taxes
related to the Closing of the transactions contemplated by this Letter of
Intent.
|
14.
|
Termination. This
Letter of Intent may be terminated:
|
|
a.
|
by
a party that has fulfilled its obligations under this Letter of Intent
upon written notice to the other party of a material breach of any
provision that has not been remedied by such breaching party within five
business days after the receipt of such
notice;
|
|
b.
|
upon
written notice by any party to the other party if the Definitive Agreement
has not been executed by January 5, 2010 or as otherwise agreed by the
parties in writing. The termination of this Letter of Intent
shall not affect the liability of a party for breach of any of the
provisions prior to the termination;
and
|
|
c.
|
by
Buyer upon written notice delivered to Seller if Buyer determines that on
the basis of information gained in the course of due diligence, it is
infeasible to proceed with the transactions contemplated by this Letter of
Intent.
|
Upon
termination of this Letter of Intent, the parties shall have no further
obligations hereunder, except that the provisions of Sections 3, 8, 10, 11, 13,
14, 17, and 18 shall survive any such termination.
15.
|
Amendment. Any
waiver, amendment, modification or supplement of or to any term or
condition of this Letter of Intent shall be effective only if in writing
and signed by both parties hereto, and the parties hereby waive the right
to amend the provisions of this paragraph
orally.
|
16.
|
Non-Assignment. This
Letter of Intent is not, and the Definitive Agreement will not be,
assignable by any party thereto without the prior written consent of all
other parties, except that Buyer may assign some or all of its rights or
obligations under this Letter of Intent and the Definitive Agreement to a
subsidiary of Buyer so long as Buyer provides a guarantee satisfactory to
Seller of all that subsidiary’s obligations
thereunder.
|
8
17.
|
Choice of Law;
Venue. This Letter of Intent and the Definitive
Agreement will be construed and enforced in accordance with the laws of
the State of Delaware, other than its rules with respect to choice of
laws. Any action or proceeding seeking to enforce any provision of, or
based on any right arising out of, this Letter of Intent may be brought
against any of the parties in the courts of the State of Delaware, County
of New Castle, or, if it has or can acquire jurisdiction, in the United
States District Court for the District of Delaware, and each of the
parties consents to the jurisdiction of such courts (and of the
appropriate appellate courts) in any such action or proceeding and waives
any objection to venue laid therein. Process in any action or
proceeding referred to in the preceding sentence may be served on any
party anywhere in the world.
|
18.
|
Counterparts. This
Letter of Intent may be executed in one or more counterparts, each of
which will be deemed to be an original and all of which, when taken
together, will be deemed to constitute one and the same
document.
|
If you
agree with the foregoing, please sign and date this Letter of Intent in the
space provided below and return it to the undersigned on or before 5:00 p.m.,
November 6, 2009. This Letter of Intent will be effective upon execution by GPL
and GPL Shareholders who hold in the aggregate at least 50% of the shares of GPL
excluding those shares held by Buyer. This Letter of Intent will expire unless
we have received this letter signed by you and the GPL Shareholders described in
the preceding sentence within the time period set forth above in this paragraph
or if sooner rejected.
Sincerely,
|
|
ACORN
ENERGY, INC.
|
|
By:
|
|
Name:
|
John
A. Moore
|
Title:
|
President
and CEO
|
Accepted
and agreed to this
_____ day
of ____________, 2009
GRIDSENSE
PTY LTD
By:
|
|
Name:
|
Lindon
Shiao
|
Title:
|
President
and CEO
|
9
GPL
SHAREHOLDERS &
SCRN NOTE
HOLDERS
Campbell
Keenan
|
|||
Lindon
Shiao
|
|||
Hans
Wick
|
|||
David
Wick
|
|||
Prime
Energy Partners
|
|||
Paul
Dunkley
|
|||
By:
|
|||
Name:
|
|||
Title:
|
|||
Kevin
Anderson
|
|||
Mark
Pasquale, individually and
|
|||
as
custodian for his IRA and
|
Doug
McKay
|
||
custodian
for Alexander Pasquale
|
|||
and
Julie Pasquale
|
|
10
Exhibit
“A”
· GPL
Debt – CDN $1,158,274 = US $ $1,128,339
· Consideration
– CDN $4.5 mn = US $4,383,720
· Initial
cap factor for earnout of CDN $2.5 mn = US $2,435,400
· Debt
owed by GPL to Buyer - CDN $750 k = US $730,620
· Debt
owed by GPL to Keenan Campbell - AUD $1,400,000 = US $1,287,076
Currency Conversion Rates at
October 16, 2009
(Source -
http://www.oanda.com/convert/classic?lang=en)
1
Canadian Dollar = 0.97416 US Dollar
1 US
Dollar (USD) = 1.02653 Canadian Dollar (CAD)
1
Australian Dollar = 0.91934 US Dollar
1 US
Dollar (USD) = 1.08774 Australian Dollar (AUD)
1
Australian Dollar = 0.94403 Canadian Dollar
1
Canadian Dollar (CAD) = 1.05928 Australian Dollar (AUD)
Volume Weighted Average
Price of Buyer’s Shares
Date
|
Open
|
Close/Last
|
Volume
|
|||||||||||||||||||
1
|
10/16/2009
|
6.57 | 6.99 | 172,724 | 1,207,341 | |||||||||||||||||
2
|
10/15/2009
|
6.47 | 6.55 | 24,314 | 159,257 | |||||||||||||||||
3
|
10/14/2009
|
6.305 | 6.49 | 100,570 | 652,699 | |||||||||||||||||
4
|
10/13/2009
|
6.34 | 6.26 | 45,334 | 283,791 | |||||||||||||||||
5
|
10/12/2009
|
6.07 | 6.29 | 33,848 | 212,904 | |||||||||||||||||
6
|
10/9/2009
|
6.07 | 5.98 | 78,065 | 466,829 | |||||||||||||||||
7
|
10/8/2009
|
6.35 | 6.08 | 129,473 | 787,196 | |||||||||||||||||
8
|
10/7/2009
|
5.5 | 6.35 | 192,581 | 1,222,889 | |||||||||||||||||
9
|
10/6/2009
|
5.31 | 5.5 | 69,402 | 381,711 | |||||||||||||||||
10
|
10/5/2009
|
5.15 | 5.29 | 44,155 | 233,580 | |||||||||||||||||
11
|
10/2/2009
|
5.17 | 5.29 | 32,748 | 173,237 | |||||||||||||||||
12
|
10/1/2009
|
5.39 | 5.31 | 24,807 | 131,725 | |||||||||||||||||
13
|
9/30/2009
|
5.34 | 5.46 | 26,597 | 145,220 | |||||||||||||||||
14
|
9/29/2009
|
5.57 | 5.47 | 29,533 | 161,546 | |||||||||||||||||
15
|
9/28/2009
|
5.4 | 5.57 | 65,260 | 363,498 | |||||||||||||||||
16
|
9/25/2009
|
5.39 | 5.37 | 66,345 | 356,273 | |||||||||||||||||
17
|
9/24/2009
|
5.33 | 5.4099 | 178,394 | 965,094 | |||||||||||||||||
18
|
9/23/2009
|
5.73 | 5.41 | 169,555 | 917,293 | |||||||||||||||||
19
|
9/22/2009
|
5.8 | 5.72 | 96,746 | 553,387 | |||||||||||||||||
20
|
9/21/2009
|
5.88 | 5.73 | 182,467 | 1,045,536 | |||||||||||||||||
|
1,762,918 | 10,421,004 | $ |
5.91
|
VWAP
|