TechPrecision’s Acquisition Failure and Regulatory Disclosure

TechPrecision (TPCS) just unveiled an announcement.

TechPrecision Corporation’s deal to acquire Votaw Precision Technologies and make it a fully owned subsidiary has fallen through. The stock purchase agreement with Doerfer Corporation was terminated by the latter, and now TechPrecision may be liable to pay a termination fee in company stock. This fee could increase if certain conditions aren’t met. The company has issued a press release detailing the termination and its consequences, emphasizing that this information is not considered filed under the Securities Exchange Act.

For a thorough assessment of TPCS stock, go to TipRanks’ Stock Analysis page.