Powin Corporation (OTCPK:PWON) entered into a merger agreement to acquire the remaining 17.65% stake in Powin Renewable Energy Resources Inc. for $1.4 billion in stock on December 1, 2015. As consideration, Powin Corporation will issue 1,640.78068 shares for each share of Powin Renewable Energy. Post the acquisition, Powin Corporation will remain as the surviving corporation and the name of Powin Corporation will change to Powin Energy Corporation. The transaction is subject to approval by the shareholders of Powin Corporation and the other closing conditions of the Merger Agreement. The transaction has been approved by the Board of Directors of Powin Corporation and Powin Energy. Powin Corporation (OTCPK:PWON) completed the acquisition of the remaining 17.65% stake in Powin Renewable Energy Resources Inc. on October 6, 2016.