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8-K - FORM 8-K - EVERGREEN SOLAR INC | b84834e8vk.htm |
Exhibit 99.1
PRESS RELEASE
Evergreen Solar Announces Results of Special Meeting of Stockholders
Marlboro, Massachusetts, February 9, 2011 Evergreen Solar, Inc. (NasdaqCM: ESLR), a manufacturer
of String Ribbon® solar power products with its proprietary, low-cost silicon wafer
technology announced that stockholders approved two proposals presented for their consideration at
its Special Meeting of Stockholders held today. Holders of shares comprising a quorum of the
Companys stockholders were present or represented by proxy at the meeting.
The first approval provided by the stockholders was for the proposed issuance of the Companys new
4% Convertible Subordinated Additional Cash Notes due 2020 and new 7.5% Convertible Senior Secured
Notes due 2017 in the previously announced exchange offers (and the issuance of common stock
issuable upon conversion of the new notes). This approval satisfied the applicable provisions of
Nasdaq Marketplace Rule 5635 as required to complete the pending exchange offers. The second
approval provided by the stockholders was for the amendment of the Companys certificate of
incorporation to increase the Companys authorized common shares to 240,000,000 from 120,000,000.
The Companys exchange offers expire at 11:59 p.m., New York City time tonight.
# # #
Where You Can Find Additional Information
Details regarding the terms and conditions of the exchange offers and consent solicitation,
including descriptions of the new notes and the material differences between the new notes and the
existing notes, can be found in the post-effective amendment to the Companys registration
statement that has been filed with the Securities and Exchange Commission (SEC) and in a tender
offer statement on Schedule TO, as amended, that has been filed with the SEC. Any investor holding
the Companys existing 4% notes or existing 13% notes should carefully read the registration
statement, the tender offer statement and other documents the Company has filed or will file with
the SEC, including the related letter of transmittal and consent, for more complete information
about the Company, the exchange offers and the consent solicitation. The registration statement,
the tender offer statement on Schedule TO, as amended, and other related documents can be obtained
for free from the SECs Electronic Document Gathering and Retrieval System (EDGAR), which may be
accessed at www.sec.gov. Documents are also available for free upon written or oral request made to
the office of the Corporate Secretary, Evergreen Solar, Inc., 138 Bartlett Street, Marlboro,
Massachusetts 01752 (Telephone (508) 357-2221) and from the Companys website at
www.evergreensolar.com, or the information agent, The Proxy Advisory Group, LLC, at (212) 616-2180.
Non-Solicitation
This press release does not constitute an offer to purchase, a solicitation of an offer to
purchase, or a solicitation of an offer to sell securities. The exchange offers will not be made
to, and the Company will not accept tenders for exchange from, holders of its existing 4% notes and
existing 13% notes in any jurisdiction in which the exchange offers or the acceptance of such
offers would not be in compliance with the securities or blue sky laws of that jurisdiction.
-more-
About Evergreen Solar, Inc.
Evergreen Solar, Inc. develops, manufactures and markets String Ribbon solar power products using
its proprietary, low-cost silicon wafer technology. The Companys patented wafer manufacturing
technology uses significantly less polysilicon than conventional processes. Evergreen Solars
products provide reliable and environmentally clean electric power for residential and commercial
applications globally. For more information about the Company, please visit www.evergreensolar.com.
Evergreen Solar and String Ribbon are registered trademarks of Evergreen Solar, Inc.
CONTACT:
Evergreen Solar, Inc.
Michael W. McCarthy
Director Investor Relations & Government Affairs
mmccarthy@evergreensolar.com
Phone: 508-251-3261
Evergreen Solar, Inc.
Michael W. McCarthy
Director Investor Relations & Government Affairs
mmccarthy@evergreensolar.com
Phone: 508-251-3261