BLBX - Blackboxstocks Announces $1250000 Private Placement Priced at $4.00 per Share | Benzinga
DALLAS, July 02, 2024 (GLOBE NEWSWIRE) -- Blackboxstocks Inc. (NASDAQ:BLBX), ("Blackbox" or the "Company"), a financial technology and social media hybrid platform offering real-time proprietary analytics for stock and options traders of all levels, announced that it has closed a private placement of its common stock for aggregate proceeds in the amount of $1.25 million priced at $4.00 per share.
- Blackbox will invest $1.15 million into Evtec Aluminium and retain $100,000 for working capital for Blackbox.io, Inc., the Company's wholly owned operating subsidiary.
- Blackbox is working with Evtec Aluminium to provide custom analytics and enterprise software solutions for their manufacturing operations.
- Evtec Aluminium will use the proceeds to fund its growth initiatives including capital expenditures to increase production capacity.
- Blackbox and Evtec amended the Share Exchange Agreement dated December 12, 2023, to increase the Blackbox percentage ownership of the combined company from 26.2% to 29.4% to reflect the investments into Blackbox and Evtec Aluminium and preserve the value for their shareholders.
The private placement was led by a $1.15 million investment by Quadrofoglio LLC. Blackbox CEO Gust Kepler is also participating in ...