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Premier Holding divests 2 subsidiaries to AOTS 42

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Premier Holding divests 2 subsidiaries to AOTS 42

Premier Holding Corp. announced March 26 a share exchange deal in which it will acquire 19.2 million common shares of AOTS 42 Inc.

In exchange, Premier Holding will provide AOTS 100% of the membership interests in American Illuminating Company LLC and The Power Company USA LLC.

After contributing its subsidiaries to the new company, and in exchange for the shares, Premier Holding will own approximately 38% of the new company, according to a news release.

The new company is also acquiring New York LED lighting company Advanced E Lighting LLC and ResCom Energy LLC, a deregulated power supplier located in Chicago. The Power Company is a professional energy services firm offering brokerage and consulting services, also based in Chicago.

Premier Holding offers, through subsidiaries, deregulated energy, energy efficiency products and services to middle-market companies, according to the news release.

The share exchange offer is subject to the approval of the AOTS and Premier Holding shareholders and closing of a private placement of $1 million worth of AOTS shares, among other customary conditions.