05:43 AM EDT, 06/20/2025 (MT Newswires) -- Emeren Group ( SOL ) said Thursday it has agreed to be acquired by Shurya Vitra for $0.20 per ordinary share, or $2 per American depositary share in cash.

If completed, the merger will result in the company becoming privately held, with its shares no longer listed on the New York Stock Exchange.

The company's board has approved the merger and also recommends its shareholders vote to approve the merger, which is expected to close during Q3.

Moreover, Himanshu Shah has entered an equity commitment letter to invest in Shurya Vitra to fund a portion of the merger to the extent necessary.

Emeren's ( SOL ) shares were up over 6% in recent Friday premarket trading.

Price: 1.90, Change: +0.12, Percent Change: +6.74