NEW YORK (TheStreet) -- Shares of SolarCity (SCTY) closed up on Wednesday after the company said shareholders will vote on its proposed $2.6 billion deal with electric car maker Tesla Motors (TSLA) on November 17.
SolarCity's meeting will take place in Foster City, CA while Tesla's will occur in Fremont, CA, according to an SEC filing.
Additionally, shareholders of the two companies will be able to vote online, over the phone or by email any time through November 16.
Tesla said that it will provide additional information on its financial plan for the merger on November 1.
Separately, on October 28 the two companies will reveal a new solar roofing product, according to a Tesla blog post. The Palo Alto-based company noted this will show what kind of products the combined company would be able to make.
SolarCity is a San Mateo, CA-based renewable energy company.
Shares of Tesla also closed up on Wednesday.
Separately, TheStreet Ratings objectively rated SolarCity stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "sell" with a ratings score of D.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: SCTY