Blue Sphere Corporation (OTCPK:BLSP) has entered into a share purchase agreement to acquire Energyeco S.R.L. from Pronto-Verde, AG for €2.2 million on June 29, 2017. The purchase price will be paid to Pronto-Verde at closing, less an amount of €0.15 million to be paid by Blue Sphere on or before July 13, 2017 and held in escrow, which will be reimbursed should the Energyeco closing not occur due to Pronto-Verde’s breach or in the event that a condition precedent to closing does not materialize, €1.1 million to repay the balance of two loans payable by Energyeco, a brokerage fee payable by Pronto-Verde in the amount of €0.06 million and €0.1 million to be held in escrow. The deal is subject to specified conditions precedent including, but not limited to, consummation of an acquisition of all share capital of Energyeco by Pronto-Verde from the owners of Energyeco, and receipt of consent from the lender and confirmation to accept repayment of the Cantu Loan. The deal is expected to close on or before September 27, 2017.