Blackboxstocks to acquire rare earth producer REalloys

2025-03-10 08:57:17 ET

• Blackboxstocks ( NASDAQ: BLBX ) has entered into a definitive merger agreement to acquire REalloys.
• Upon closing of the merger, Blackbox’s and REalloys’ stockholders are expected to own about 7.3% and 92.7%, respectively, of the combined company’s shares of common stock expected to be outstanding upon closing of the merger, based on REalloys’ initial valuation of $400 million.
• Blackbox’s stockholders of record prior to closing will receive Contingent Value Rights (CVRs) entitling them to certain net proceeds from the potential sale of Blackbox’s current fintech operations within 24 months post-merger.
• Post-closing, David Argyle is expected to assume the role of chief executive officer of the combined company, while Gust Kepler will continue as chief executive officer of Blackbox.io.
• REalloys will appoint five members and current management of Blackbox will appoint one member to the board of directors of the post-merger combined company.
• The merger is expected to close in the second quarter of 2025.
• BLBX -1.15% premarket to $3.42.
• Source: Press Release

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