Charge Enterprises Announces Acquisition of Greenspeed Energy Solutions For Up To $15M
Portfolio Pulse from Charles Gross
Charge Enterprises, Inc. (NASDAQ:CRGE) has acquired Greenspeed Energy Solutions, a provider of sustainable energy solutions, for up to $15 million. The acquisition includes $6 million in cash, $2 million of Charge common stock, and potential additional payments of up to $7 million contingent on EBITDA milestones. This move allows Charge to expand its capabilities and geographic footprint, and to serve its clients directly rather than through subcontractors.
August 01, 2023 | 11:25 am
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Charge Enterprises' acquisition of Greenspeed Energy Solutions for up to $15 million could enhance its capabilities and geographic reach. The deal includes $6 million in cash, $2 million in Charge common stock, and potential additional payments of up to $7 million based on EBITDA milestones.
The acquisition of Greenspeed Energy Solutions allows Charge Enterprises to expand its capabilities and geographic footprint, and to serve its clients directly rather than through subcontractors. This could potentially lead to increased revenues and profitability, which could positively impact the company's stock price in the short term.
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