A Tucson-based solar energy sales and installation firm has gone public in a merger with an existing publicly traded company.
ABCO Energy Inc. received approval from the Financial Industry Regulatory Authority of its acquisition of Energy Conservation Technologies Inc., a Boulder, Colo.-based public company traded on the over-the-counter markets, the company said in a news release.
The combination of the two companies resulted in a reverse split of 1 for 23 for the original shares of Energy Conservation shareholders. The name of the public company will change to ABCO Energy Inc. and the trading symbol will become “ABCE” effective Aug. 16, the company said. Until then, the stock will trade under the temporary symbol “ENYCD” on the OTC market, where the stock has been trading at under a penny.
ABCO is led by president Charlie O’Dowd, former Southern Arizona director of the Arizona Small Business Association. The company has offices in Tucson, Phoenix and Flagstaff, and in Manhattan, New York.