Blackboxstocks announces $1.25M private placement priced at $4.00 per share

Blackboxstocks has closed a private placement of its common stock for aggregate proceeds in the amount of $1.25 million priced at $4.00 per share. Blackbox will invest $1.15 million into Evtec Aluminium and retain $100,000 for working capital for Blackbox.io, Inc., the Company’s wholly owned operating subsidiary. Blackbox is working with Evtec Aluminium to provide custom analytics and enterprise software solutions for their manufacturing operations. Evtec Aluminium will use the proceeds to fund its growth initiatives including capital expenditures to increase production capacity. Blackbox and Evtec amended the Share Exchange Agreement dated December 12, 2023, to increase the Blackbox percentage ownership of the combined company from 26.2% to 29.4% to reflect the investments into Blackbox and Evtec Aluminium and preserve the value for their shareholders. The private placement was led by a $1.15 million investment by Quadrofoglio LLC. Blackbox CEO Gust Kepler is also participating in the private placement with an investment of $100,000.