simarik
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