Upon Closing Of Proposed Transaction, ElectraMeccanica Shareholders Will Own 23.5% Of Combined Co. And Tevva Shareholders Will Own 76.5%; Co. Expects To Have Cash Balance Of $70M-$80M With Debt Of ~$26M
Portfolio Pulse from Benzinga Newsdesk
ElectraMeccanica and Tevva are set to merge, with ElectraMeccanica shareholders owning 23.5% of the combined company and Tevva shareholders owning 76.5%. The company is expected to have a cash balance of $70M-$80M with a debt of approximately $26M.
August 15, 2023 | 12:33 pm
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ElectraMeccanica, represented by the symbol SOLO, is merging with Tevva. Post-merger, SOLO shareholders will own 23.5% of the combined company.
The merger news is directly related to ElectraMeccanica (SOLO). The impact on the stock price is uncertain as it depends on how the market perceives the merger. The expected cash balance and debt post-merger are also important factors to consider.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100