Blacboxstocks to acquire Evtec Aluminium

Blackboxstocks announced that it executed a definitive agreement to acquire Evtec Aluminium. The transaction is expected to close in the first quarter of 2024. Revenue estimates for Evtec Aluminum have now reached $52M for fiscal 2024 ending June 30, an increase of over 60% from the prior year. Evtec has record order demand in its pipeline with approximately $778M in existing orders scheduled for delivery beginning in March 2024. The order book has increased by approximately $430M over the past eight months and is expected to increase by at least an additional $150M by March 2024. Post-closing, Blackbox and Evtec Aluminum common stockholders will own 26.7% and 73.3% of the estimated 12M common shares outstanding post-merger, respectively. Blackbox plans to acquire the remaining 87% of Evtec Automotive in Q1 of 2024. Evtec Automotive’s inclusion in the merger would result in Blackbox shareholders retaining 9.5% of the combined companies. Blackbox common stockholders of record immediately prior to closing of the transaction will receive a contingent value right, or CVR, for the net proceeds received by the company for the sale or spin-off of the current Blackbox fintech operations within a 24-month period after the close of the merger. The current Blackbox operations will be moved into a new subsidiary prior to the closing. David Roberts will assume the roles of chairman and CEO of the parent company post-closing. Gust Kepler will continue to serve as the CEO of the Blackbox fintech operations and Robert Winspear will remain a director and CFO of the parent Company, all post-closing. Evtec will appoint three new independent directors to the company’s board. The transaction is expected to close in the first quarter of 2024 and is subject to customary closing conditions including but not limited to regulatory, lender and stockholder approval. Blackbox and Evtec plan to file a joint Registration Statement and proxy on Form S-4 as soon as practical.