We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
BlackBoxStocks Inc | NASDAQ:BLBX | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0853 | -2.87% | 2.89 | 2.65 | 3.16 | 2.9999 | 2.75 | 2.85 | 8,959 | 00:30:01 |
-Blackbox Stockholders to retain 26.7% of the combined company’s 12,000,000 common shares post-merger plus receive a Contingent Value Right (“CVR”) for current Blackbox fintech operations-
-Blackbox has already acquired 13% of Sister Company Evtec Automotive with $80 million in revenue and plans to acquire the remainder of the company in parallel-
-Transaction expected to close in Q1 2024-
Blackboxstocks Inc. (NASDAQ: BLBX), (“Blackbox” or the “Company”), a financial technology and social media hybrid platform offering real-time proprietary analytics for stock and options traders, announced today that on December 12, 2023 it executed a definitive agreement to acquire Evtec Aluminium Limited (“Evtec”). The transaction is expected to close in the first quarter of 2024.
Evtec is a supplier of proprietary mission critical parts for the Electric Vehicle (“EV”), Hybrid, Performance and Luxury OEM automotive markets to brands including JLR (formerly Jaguar Land Rover), Aston Martin, Ford, Bentley, and auto suppliers including Dana, American Axle, Cox Powertrain, among others. David Roberts, a 40-year veteran of the global automotive market and a UK Export Ambassador, leads a team of seasoned executives with decades of experience.
The Acquisition
Gust Kepler, Chief Executive Officer of Blackbox, commented, “This is a great transaction that delivers outstanding value for Blackbox stockholders. Not only will our stockholders retain the current value of the Blackbox operations via a contingent value right (CVR), but they will also receive a significant interest in Evtec’s operations going forward. As a subsidiary of the parent company, Blackbox’s fintech operations will continue to create and provide innovative tools and analytics for traders. We look forward to completing the transaction in Q1 2024 and delivering maximum value to our shareholders.”
Evtec Operations and Strategy
Evtec, founded by leading entrepreneur David Roberts, seeks to generate attractive long-term returns within the manufacturing sector. Evtec’s objective is to push the boundaries of manufacturing excellence through investing in promising companies, clever technology, and market leading practices. They have built up an impressive portfolio of private companies, located in the UK, in a wide variety of sectors including luxury goods, automotive vehicles and trucks, automotive parts and components, consumer goods and industrial products, that complement each other in order to provide the market with superior products and services.
Evtec focuses on the luxury, performance, hybrid and electric vehicle (“EV”) automotive supply chain revolution. The business is based upon streamlining the supply chain for their OEM customers while targeting market segments with strong growth and more price elasticity in order to generate higher margins. EV demand continues to outpace the automotive industry and is expected to continue to do so for the foreseeable future. The luxury segment of the industry generates higher margins, thereby allowing manufacturers to pay premium prices in order to improve supply chain operations and efficiency.
Evtec’s strategy includes future acquisitions to augment its strong organic growth. Leveraging its excellent track record for delivering high quality parts on time, Evtec is well positioned to acquire companies that have strong order books but lack Evtec’s operational capabilities. Evtec currently has multiple targets for potential acquisition.
Evtec’s U.S. strategy is to partner with established brands and distribution to expand into higher margin opportunities driven by Evtec’s relationships with well renowned global brands in the industry, including the racing and performance segments. By providing opportunities for higher margin revenues and new distribution channels, Evtec anticipates its U.S. launch to drive significant revenue growth in 2024 and beyond through organic and acquisition growth.
David Roberts, Chairman and CEO of Evtec, added, “The market opportunity to be a single-source, strategic supplier to global OEMs in the EV and Hybrid automotive sector is significant and growing exponentially. The global pressures on reducing supply chain risk fragility, increasing localization and near-shoring, combined with proven competency in complex assemblies and precision parts, underpins the strong growth we are experiencing at Evtec. Access to the public markets provided by this transaction is compelling for all of our stakeholders as it supports our strategic plan that includes expansion of our global footprint by both organic growth and acquisition.”
James Whittle, Global Purchasing and Supplier Quality Director for JLR (Jaguar Land Rover), said, “JLR is very supportive of Evtec becoming a public company and moving ahead with its investment programme to further increase its capacity and capability to supply key components for our EV vehicles as they are a key strategic partner for us and our growth strategy.”
About Evtec
Evtec is a UK-based business group providing complete assemblies and complex engineered components to auto manufacturers, simplifying sourcing, saving time on procurement, and increasing production efficiency. Their pick and pack service supplies aftermarket automotive products, as well as offering kitting and fulfilment for non-automotive businesses. Their business focuses on premium luxury brands and a market transition to electric vehicles and includes Jaguar Land Rover Group as their largest customer. As a result of significant change in the global supply chain for auto manufacturing in Great Britain that places an increased need for local sourcing of parts, Evtec is well positioned to expand both organically and through acquisition. For more information, go to: https://www.evtec-group.com/
About Blackboxstocks, Inc.
Blackboxstocks, Inc. is a financial technology and social media hybrid platform offering real-time proprietary analytics and news for stock and options traders of all levels. Our web-based software employs "predictive technology" enhanced by artificial intelligence to find volatility and unusual market activity that may result in the rapid change in the price of a stock or option. Blackbox continuously scans the NASDAQ, New York Stock Exchange, CBOE, and all other options markets, analyzing over 10,000 stocks and up to 1,500,000 options contracts multiple times per second. We provide our users with a fully interactive social media platform that is integrated into our dashboard, enabling our users to exchange information and ideas quickly and efficiently through a common network. We recently introduced a live audio/screenshare feature that allows our members to broadcast on their own channels to share trade strategies and market insight within the Blackbox community. Blackbox is a SaaS company with a growing base of users that spans over 40 countries; current subscription fees are $99.97 per month or $959.00 annually.
For more information, go to: https://blackboxstocks.com/
Safe Harbor Clause and Forward-Looking Statements
This press release includes forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy and plans, and our objectives for future operations, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “expose,” “intend,” “may,” “might,” “opportunity,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us. Future developments affecting us may not be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the heading “Risk Factors” in our filings with the Securities and Exchange Commission (the “SEC”), including our reports on Forms 10-K, 10-Q, 8-K and other filings that we make with the SEC from time to time. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. These risks and others described under “Risk Factors” in our SEC filings may not be exhaustive.
By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and developments in the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this press release. In addition, even if our results or operations, financial condition and liquidity, and developments in the industry in which we operate are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.
Disclosure Information
Blackboxstocks uses and intends to continue to use its Investors website at https://blackboxstocks.com/company-overview as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor the Company’s Investors website, in addition to following the Company’s press releases, SEC filings, public conference calls, presentations and webcasts.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231213868320/en/
Investors@blackboxstocks.com PCG Advisory Stephanie Prince (646) 863-6341 sprince@pcgadvisory.com
1 Year BlackBoxStocks Chart |
1 Month BlackBoxStocks Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions