Blackboxstocks and Evtec Aluminium Terminate Share Exchange Agreement
Deal News | Jan 17, 2025 | Globenewswire
Blackboxstocks Inc., a NASDAQ-listed financial technology and social media platform, announced the mutual termination of its Share Exchange Agreement with Evtec Aluminium Limited, initially intended to make Evtec a wholly-owned subsidiary. This decision, made in January 2025, comes after numerous hurdles and delays beyond the companies' control, which led to increasing costs. The agreement was first executed in December 2023 and amended in July 2024. Both companies expressed disappointment but affirmed that the decision was in their best interest. As a result, Blackboxstocks will withdraw its registration statement on Form S-4 with the SEC. Blackboxstocks, known for its real-time analytics and social media platform for traders, utilizes AI-enhanced predictive technology to scan multiple stock exchanges. The company also announced the use of its investor website for compliance with SEC disclosure obligations.
Sectors
- Financial Technology
- Manufacturing
Geography
- United States – Blackboxstocks Inc. is based in Dallas, making the United States a primary geography for the company.
- United Kingdom – Evtec Aluminium Limited is based in the United Kingdom, indicating its geographic focus.
Industry
- Financial Technology – Blackboxstocks Inc. operates in the financial technology sector, providing real-time analytics and social media platforms for stock and options traders.
- Manufacturing – Evtec Aluminium Limited is involved in the manufacturing industry, specifically in the production of aluminum products.
Financials
- Registration statement on form S-4 – Blackboxstocks will withdraw its registration statement filed with the SEC due to the terminated agreement.
- $99.97 per month or $959.00 annually – Current subscription fees for users of Blackboxstocks' platform.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Blackboxstocks Inc. | Acquiring Company | Company | A financial technology and social media platform offering real-time analytics for stock and options traders. |
| Evtec Aluminium Limited | Target Company | Company | A company involved in the production of aluminum products. |
| Gust Kepler | CEO of Blackboxstocks | Person | Chief Executive Officer of Blackboxstocks, Inc. |
| David Roberts | CEO of Evtec | Person | Chief Executive Officer of Evtec Aluminium Limited. |