NaturalShrimp Incorporated Terminates Merger Agreement; Announces Re-IPO Opportunity For Uplist
Portfolio Pulse from Happy Mohamed
NaturalShrimp Incorporated (OTCQB:SHMP) has terminated its merger agreement with Yotta Acquisition Corporation due to Yotta's inability to meet certain financial conditions. NaturalShrimp is now in negotiations with another entity for a business combination merger and uplist, involving a Re-IPO and a new capital raise of between $10-$12M. The company plans to uplist by the end of September or beginning of October.
July 27, 2023 | 12:41 pm
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NEUTRAL IMPACT
NaturalShrimp's termination of its merger with Yotta and announcement of a Re-IPO and new merger negotiations could potentially impact its stock price.
The termination of the merger with Yotta could initially have a negative impact on NaturalShrimp's stock price. However, the announcement of a Re-IPO and new merger negotiations could potentially offset this negative impact, depending on the market's perception of the new deal. The planned uplist could also have a positive impact on the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100