BLBX - Blackboxstocks takes stake in Evtec through a securities exchange transaction
2023-06-15 09:12:59 ET
-
Blackboxstocks ( NASDAQ: BLBX ) has issued 2.4 million shares of Series B convertible preferred stock for a stake in Evtec Group, the company said Thursday.
-
Evtec, in exchange, will issue 4,086 newly issued preferred shares to the company.
-
The mutual investment between the two companies is an initial step towards completing their planned merger, Blackboxstocks said.
-
As a result of the securities exchange transaction, the company has regained compliance with NASDAQ's stockholder equity requirement.
For further details see:
Blackboxstocks takes stake in Evtec through a securities exchange transaction