Meta Materials Inc Says Co Intends To Eliminate Redundancies, Including Overhead And Limited Non-Essential Workforce; The Expected Annualized Cost Savings Will Be ~$20M-$30M
Portfolio Pulse from Benzinga Newsdesk
Meta Materials Inc (MMAT) plans to streamline its operations by focusing on three core business lines and spinning off other business lines. The company also intends to eliminate redundancies, including overhead and non-essential workforce, expecting to save approximately $20M-$30M annually. The restructuring is aimed at capturing and preserving additional capital for expenses and R&D focused on core products.
November 07, 2023 | 1:42 pm
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MMAT's restructuring plan to focus on core business lines and eliminate redundancies is expected to save $20M-$30M annually. This could improve the company's financial health and potentially attract investors.
The restructuring plan announced by MMAT is a significant move that could potentially improve the company's financial health by reducing costs and focusing on core business lines. This could make the company more attractive to investors, potentially driving up the stock price in the short term.
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