2023-10-23 11:38:46 ET
Energy firms dominated the news Monday morning and this company was no exception, seeing triple-digit gains in its share price. %AmericanEnergyPartners (PINK: ) announced in a press release today the signing of a Letter of Intent to be acquired by %SCWorx () and will be known as American Environmental Partners, Inc. on October 30, 2023, pending regulatory approval.
The LOI sets forth the proposed terms and conditions pursuant to which SCWorx and American Environmental intend to implement the business combination, as a result of which American Environmental and SCWorx’s healthcare data management business will each be conducted through wholly-owned subsidiaries of SCWorx.
Shares were trading up at $0.65 in morning trade.
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