Hempacco Says Illumination Brands And Co Entered Into A Non-Binding LOI To Combine US Operations; Combined Company, To Retain The Name "illumination Brands" And Hempacco's Nasdaq Exchange Listing; Potential Combination Is Expected To Create ~$35M Annually In Revenues To The Newly Combined Companies
Portfolio Pulse from Benzinga Newsdesk
Hempacco and Illumination Brands have entered into a non-binding LOI to merge their US operations, retaining the name 'Illumination Brands' and Hempacco's Nasdaq listing. The merger is expected to generate approximately $35M in annual revenues for the combined entity, according to an SEC filing.
April 30, 2024 | 2:55 pm
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POSITIVE IMPACT
Hempacco's merger with Illumination Brands is expected to significantly boost its revenues, with an anticipated $35M annually for the combined company.
The merger between Hempacco and Illumination Brands is a strategic move to consolidate their US operations, aiming to enhance their market position and financial performance. The expected revenue of $35M annually for the combined entity suggests a significant positive impact on Hempacco's financial health and growth prospects. Given the non-binding nature of the LOI, there is some uncertainty, but the potential benefits outlined in the SEC filing provide a strong basis for a positive outlook.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100