MINM - Minim announces all-stock merger with energy equipment and solutions firm e2Companies
2024-03-12 16:43:34 ET
- Minim ( NASDAQ: MINM ) soared in post-market trading on Tuesday as the internet access products maker announced an all-stock merger with energy equipment and solutions firm e2Companies.
- The combined company - which would operate as e2Companies and trade on Nasdaq - would focus on continuing to drive proprietary solutions for grid modernization.
- Under deal terms, interest holders of e2Companies would own about 97% of the combined company, and security holders of Minim would the remaining 3%, on a fully diluted basis.
- The combined company’s Board, after the merger, would consist of seven members, two of whom would be designated by Minim.
- The combined company would be led by James Richmond, CEO of e2Companies
- The transaction has been approved by the board of Minim and the managers of e2Companies and is expected to close in the second quarter of 2024.
- Source: Press Release