Synex Renewable Energy Plans Acquisition by Sitka Power

Synex Internt’l ( (TSE:SXI) ) has issued an update.

Synex Renewable Energy Corporation announced the filing of a management information circular for a special meeting of shareholders to approve a plan of arrangement with Sitka Power Inc. Under this arrangement, Sitka will acquire all outstanding common shares of Synex for C$2.40 per share, leading to Synex’s delisting from the Toronto Stock Exchange and becoming a wholly-owned subsidiary of Sitka. The board of directors recommends shareholders vote in favor of the arrangement, which is expected to close in the second half of 2025, pending necessary approvals.

Spark’s Take on TSE:SXI Stock

According to Spark, TipRanks’ AI Analyst, TSE:SXI is a Neutral.

The overall stock score is influenced by significant financial challenges, including negative profitability and high leverage. Despite strong revenue growth and positive corporate events, the company’s valuation is a concern due to its negative P/E ratio. Technical analysis shows upward momentum, although the stock is overbought, suggesting potential short-term corrections.

To see Spark’s full report on TSE:SXI stock, click here.

More about Synex Internt’l

Synex Renewable Energy Corporation, based in Vancouver, British Columbia, specializes in the development, acquisition, ownership, and operation of renewable energy projects in Canada. The company has interests in hydroelectric projects and wind development sites, with significant potential capacity for clean power generation in British Columbia.

YTD Price Performance: 38.55%

Average Trading Volume: 8,824

Technical Sentiment Signal: Hold

Current Market Cap: C$11.52M

Find detailed analytics on SXI stock on TipRanks’ Stock Analysis page.