Envirotech Vehicles Reveals Acquisition Of Maddox Industries, A Provider Of Government Contracting Solutions Based In Puerto Rico; Terms Include 3.1M Shares And Conditional Payment Of $1M In Cash
Portfolio Pulse from Benzinga Newsdesk
Envirotech Vehicles has acquired Maddox Industries, a government contracting solutions provider, to enhance its U.S. manufacturing and logistics capabilities. The deal involves issuing 3.1 million shares and a conditional $1 million cash payment, potentially boosting revenue from government contracts.
October 31, 2024 | 8:21 pm
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Envirotech Vehicles' acquisition of Maddox Industries is expected to enhance its U.S. manufacturing and logistics capabilities, potentially increasing revenue from government contracts. The deal involves issuing 3.1 million shares and a conditional $1 million cash payment.
The acquisition is a strategic move to boost Envirotech's capabilities in manufacturing and logistics, which is likely to lead to increased revenue from government contracts. The issuance of shares and conditional cash payment indicate a significant investment in future growth.
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