Blackbox Stockholders expected to retain
8.34% of the common shares of the combined company’s common stock
post-merger
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 of all levels, announced today that it has entered into a
letter of intent to merge with Evtec Group Limited, Evtec Aluminium
Limited and Evtec Automotive Limited (collectively “Evtec”). Evtec
is a supplier of proprietary parts for leading Luxury, Performance,
and Electric Vehicle “EV” brands including Jaguar Land Rover, Aston
Martin, and Ford, among many others.
- Evtec targets and acquires opportunistic mission critical
supply chain assets at distressed valuations with strong order
books from 2024 to 2032 for mostly single sourced parts.
- Evtec is led by David Roberts, a 40-year veteran of the global
automotive market who also serves as a UK Export Ambassador and is
backed by a team of seasoned executives with decades of
experience.
- Evtec has record order demand in its pipeline with
approximately US$500 million in existing orders scheduled for
delivery from 2024 through 2032.
Gust Kepler, Chief Executive Officer of Blackbox, commented
“We’re excited about pursuing this unique opportunity with Evtec.
We believe that this transaction will provide significant and
long-term value for our stockholders in the post-merger company.
Blackbox will continue operations in the fintech sector as a
subsidiary of the parent company and will continue executing its
strategic plan in its ongoing mission to provide its users with the
best trading information possible. However, we also believe that
changes in the supply chain resulting from the pandemic and growing
geo-political tensions are creating a unique opportunity for
companies like Evtec. Evtec has the vision and resources to
near-shore component manufacturing and provide its customers with
long term certainty of critical parts and its shareholders with the
prospect for higher returns.”
Evtec is focused on the Luxury, Performance and Electric Vehicle
“EV” automotive supply chain revolution. The business is targeting
and acquiring opportunistic mission critical, supply chain assets
at distressed valuations with strong order books from 2024 to 2032
for mostly single sourced parts. Evtec is only focused on working
with market segments that offer strong price elasticity where
consumers will pay more for luxury and performance and absorb the
cost to reduce pressure on margins.
The US strategy is to partner with established brands and
distribution to expand into higher margin opportunities driven by
vertical supply and industry lower cost structure. Conversations
with world renowned brands in the industry that offer global reach
and high growth opportunities for higher margin revenues and brand
building value in the racing and performance industry have opened
doors to conversations with strong distribution channels. We
anticipate the USA launch and market to drive significant revenue
in 2024 and beyond with organic and acquisition growth
opportunities.
David Roberts, Chairman and CEO of Evtec, added, “Blackbox and
the team offer us a tremendous pathway and structure to execute our
vision for continued growth and global expansion. Our business is
spring loaded to take advantage of the tremendous backlog in our
industry and our large order book provides us with predictable
revenue growth that will serve as a backbone for building a future
supply chain for the performance, luxury and EV market automotive
segment. With a strong pipeline of strategic opportunities backed
by committed revenues, we are excited to leverage our new access to
the capital markets to grow our business and drive shareholder
value through synergy and growth.”
The letter of intent is non-binding with the exception of a
break-up fee of $500,000 if either party terminates the transaction
prior to April 29, 2023, or the execution of a binding letter of
intent or a definitive agreement. Closing of the transaction is
also conditioned upon customary closing conditions including but
not limited to regulatory, lender and stockholder approval.
About Evtec
Evtec is a UK based company providing complete assemblies 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.
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
42 countries; current subscription fees are $99.97 per month or
$959.00 annually.
For more information, go to: https://blackboxstocks.com.
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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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230416005083/en/
Investors@blackboxstocks.com PCG Advisory Stephanie Prince (646)
863-6341 sprince@pcgadvisory.com
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