Each one in plain English, with the numbers worked through for a shareholder.
13 May 2024business combination● NeutralMajor
Blackboxstocks registered the shares for its takeover by Evtec Aluminium, an English company based in Coventry, at 301.8 Blackboxstocks shares per Evtec share -- leaving Evtec's owners with about 73.2% of the combined group and Blackboxstocks' own holders 26.8%, with the company to be renamed Evtec Holdings and trade as EVHI. There was no vote to win: chief executive Gust Kepler's 100-votes-per-share preferred stock gave him 99.2% of the votes and he had already signed the written consent, and Blackboxstocks holders kept an interest in the existing trading-software business only through a contingent value right.
As a condition of the pending Evtec acquisition, Blackboxstocks formed a new subsidiary, Blackbox.io Inc., and contributed its legacy fintech trading-analytics business to it, separating that business from the future Evtec-owned parent.
REALLOYS INC. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
Blackboxstocks signed a definitive agreement to acquire Evtec Aluminium, a UK supplier of EV and performance-auto parts with about $52 million in projected revenue, in a reverse merger that would spin its legacy fintech business into a separate subsidiary and give existing Blackbox holders a contingent value right tied to that spinoff.
Under Nasdaq compliance pressure, Blackboxstocks extended stalled talks to acquire UK electric-vehicle parts maker Evtec, with Evtec agreeing to pay extension fees and forfeit preferred shares it had received under an earlier exchange arrangement while the two sides worked toward a definitive deal.
REALLOYS INC. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
REALLOYS INC. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
Blackboxstocks also fell out of compliance with Nasdaq's minimum stockholders' equity rule after reporting 2022 year-end equity below the required $2.5 million threshold.
REALLOYS INC. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
REALLOYS INC. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
