Green Energy Management Services (GEM) has completed its previously announced reverse merger with CDSS Wind Down. Pursuant to the merger, GEM became a wholly owned subsidiary and sole operating entity of CDSS and CDSS will be changing its name to Green Energy Management Services Holdings. In connection with the transaction, prior to the merger, CDSS affected a 1-for-3 reverse stock split. As a result of the merger, former shareholders of GEM were issued shares of CDSS’ common stock in exchange for their shares of GEM and own approximately 80% of the public company, with CDSS’ shareholders owning the balance.
GEM is a full service, national energy management company. GEM provides its clients with energy efficiency solutions mainly based in two functional areas: energy efficient lighting upgrades and renewable energy generation.
In addition, as a result of the merger, Michael Samuel, the Chief Executive Officer of GEM, was appointed as Chairman, President, Chief Executive Officer and a director of CDSS, Robert Weinstein, the Chief Financial Officer of GEM, was appointed as the Chief Financial Officer of CDSS, William D’Angelo, a director of GEM, was appointed as a director of CDSS, and all of CDSS’ officers and directors prior to the merger resigned from all of their positions held with CDSS.
“We are excited to have completed the process to become public,” said Michael Samuel, Chief Executive Officer of GEM. “We are seeing strong interest from public and private entities looking to reduce their cost of energy and energy management. This interest is leading to promising opportunities for GEM to provide both the technology and management expertise that will result in its customers dramatically lowering their energy costs.”
USA, Dallas, Texas