SinglePoint Inc. (OTCPK:SING) entered into a purchase agreement to acquire a 80.1% stake in The Boston Solar Company, LLC for $6.5 million on November 20, 2021. Under the agreement, the company can acquire an 80.1% of the outstanding membership interests of The Boston Solar Company LLC for an aggregate purchase price of $6,453,608. Upon closing, the purchase consideration will be payable (i) through a combination of cash, issuance of shares of common stock and the issuance of a promissory note, and (ii) subject to adjustment and withholding (both to be determined as of the closing).

Chief Executive Officer and Co-Founder of Boston Solar, Daniel Mello Guimaraes will join the SinglePoint team. The closing of the transaction is subject to the satisfaction (or waiver) of certain conditions as of the closing including but not limited to: completion of an audit of Boston Solar, and completion of due diligence of Boston Solar by the company. The transaction is contingent on completion of the on-going audit and the subsequent financing and is expected to close prior to year-end or within the first quarter of 2022.