Eco Modular, A Leader In Sustainable Modular Building Manufacturing, To Go Public Through Merger With Zalatoris II Acquisition Corp.; Transaction Represents An Enterprise Value Of $600M For Eco Modular, Expects To Have Up To $66M In Cash To Fund Growth
Portfolio Pulse from Benzinga Newsdesk
Eco Modular, specializing in sustainable modular building manufacturing, is set to go public through a merger with Zalatoris II Acquisition Corp. (NASDAQ: ZLS). The deal values Eco Modular at $600 million and is expected to provide up to $66 million in cash for growth. The merger will result in Eco Modular being listed on NASDAQ under the ticker EMOD, with the closing anticipated in Q1 2024. This move taps into the growing sustainable construction market, which is expected to significantly expand in the US and Europe by 2030.
December 05, 2023 | 9:31 pm
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Zalatoris II Acquisition Corp. (ZLS) is merging with Eco Modular, valuing the latter at $600M. The merger is expected to close in Q1 2024, positioning Eco Modular for NASDAQ listing under the ticker EMOD.
The merger with Eco Modular is a significant event for Zalatoris II Acquisition Corp., as it not only values the target company at $600M but also aligns with the growing trend of sustainable construction. The anticipation of the merger's completion and the subsequent NASDAQ listing under the new ticker EMOD could generate investor interest and potentially increase ZLS's stock price in the short term.
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