Carlylewasn't the first to unveilplans for its renminbifund, whichit did in January, butit says itis the first major foreignfirm to announce aninitialclosing foritsfund.
A123 said that during a ten trading day period five months following the initialclosing date of the transaction and during another ten day period six months following the close, it has the right to require the investors to buy in each such period up to an additional 6, 250, 000 shares for an aggregate of up to 12.5 million additional shares.
In addition, Silver Bay has entered into contribution and merger agreements through which it will acquire, concurrent with the closing of the offering, an initial portfolio of more than 3, 100 single-family residential properties through entities associated with Two Harbors Investment, a publicly traded REIT (TWO), and Provident Real Estate Advisors LLC, a private capital management firm, in exchange for equity interests in Silver Bay or its operating subsidiary, or cash.