Blackboxstocks Announced It Executed A Definitive Agreement To Acquire Evtec Aluminium Limited; Post-Closing Blackbox And Evtec Will Own 26.7% And 73.3% Of ~12M Shares Respectively
Portfolio Pulse from Benzinga Newsdesk
Blackboxstocks has entered into a definitive agreement to acquire Evtec Aluminium Limited. Upon completion, Blackbox and Evtec will own 26.7% and 73.3% of approximately 12 million shares, respectively. Blackbox stockholders will retain a 26.7% stake in the merged entity and receive a Contingent Value Right for Blackbox's current fintech operations. Blackbox has already acquired a 13% stake in Evtec Automotive, which has $80 million in revenue, and aims to acquire the rest of the company concurrently. The transaction is expected to close in Q1 2024.
December 13, 2023 | 1:35 pm
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Blackboxstocks is acquiring Evtec Aluminium Limited, which will result in Blackbox stockholders owning 26.7% of the new company and receiving a CVR. The company has already acquired a 13% stake in Evtec Automotive.
The acquisition of Evtec Aluminium Limited by Blackboxstocks is a significant strategic move that could potentially enhance the company's market position and revenue, given Evtec Automotive's reported $80 million in revenue. The news of the acquisition is likely to be viewed positively by investors, as it indicates growth and expansion. However, the full impact will depend on the successful closure of the transaction and the integration of the two companies.
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