Post by
RangerBuck on Jan 30, 2024 4:15pm
Some Sedar Details
Take note of the Color Highlighted in the Sedar details
Exro Technologies (“Exro”) and SEA Electric (“SEA”) are engaged in planning a transformational business combination (the “Merger Transaction”)
• Merger Transaction to take form of a 100% all-share exchange with the pro forma entity to remain publicly traded on the TSX (EXRO) In conjunction with the Merger Transaction, the combined entity (“Exro-SEA” or the “Company”) will aim to raise $50M (US$37M) to fund the next leg of executing the commercialization of its technology solutions
• Private placement of subscription receipts for common shares in pro forma Exro-SEA • Lead order from a Canadian institutional investor
• Upon consummation of the Merger Transaction, Exro-SEA is contemplating a reverse stock split
Comment by
Viking2233 on Jan 30, 2024 4:34pm
Reduce the size of float, increase the share price to a level to list on Nasdaq. That could be a possibility then hit Nasdaq with a number of material news releases.
Comment by
nedstar71 on Jan 30, 2024 5:27pm
A 1 for 10 reverse split is the minimum imo. This will hang over the share price for some time. Good to see they are at least being upfront about it.
Comment by
newcoin on Jan 30, 2024 7:00pm
Sad. Disappointing. Another loss.
Comment by
Viking2233 on Jan 30, 2024 7:40pm
I agree exactly, what loss???
Comment by
newcoin on Jan 30, 2024 7:42pm
I have a loss. I purchased the shares at a higher price. So for now, at least,I have a financial loss because I invested in this company.
Comment by
Viking2233 on Jan 30, 2024 7:47pm
No loss unless you sold and same goes for gains.