EVmo Inks LoI To Merge With micromobility.com
Portfolio Pulse from Benzinga Newsdesk
EVmo has signed a Letter of Intent (LoI) to merge with a newly-formed subsidiary of micromobility.com in a stock-for-stock exchange, with current EVmo shareholders expected to receive a meaningful minority interest in the combined company.
June 07, 2023 | 12:01 pm
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POSITIVE IMPACT
Micromobility.com (MCOM) is set to merge with EVmo in a stock-for-stock exchange, with EVmo shareholders receiving a minority interest in the combined company.
The merger between Micromobility.com and EVmo will result in a combined company with potentially increased market presence and synergies. This could lead to a positive short-term impact on MCOM's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
EVmo (YAYO) is set to merge with a subsidiary of micromobility.com in a stock-for-stock exchange, with current EVmo shareholders receiving a minority interest in the combined company.
The merger between EVmo and micromobility.com's subsidiary will result in a combined company with potentially increased market presence and synergies. This could lead to a positive short-term impact on YAYO's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100