Brief: Graphex Group Says Proposed Transaction To Transition Graphex Technologies Into Independent U.S. Co

Graphex

06/12/2023 15:30

Dec 6 (Reuters) - Graphex Group Ltd  6128.HK :
    * GRAPHITE FOR NORTH AMERICA GRAPHEX GROUP RECEIVES
UNSOLICITED
PRELIMINARY OFFER AND LOI TO BUY GRAPHEX TECHNOLOGIES AND PROPEL
ITS NORTH AMERICAN EXPANSION STRATEGY
    * PRE-MONEY ENTERPRISE VALUE, NET OF LIABILITIES, FOR
GRAPHEX TECH
IS ANTICIPATED TO BE BETWEEN $100 AND -$200 MILLION
    * PROPOSED TRANSACTION WILL TRANSITION GRAPHEX TECHNOLOGIES
INTO
AN INDEPENDENT U.S. COMPANY
    * PARTIES WILL WORK TO CLOSE ACQUISITION IN FIRST HALF OF
2024
    * CO & UNIT ENTERED LOI WITH INDEPENDENT NASDAQ-LISTED BLANK
CHECK
COMPANY
    * PURSUANT TO LOI, PURCHASER PROPOSES TO ACQUIRE 100% OF
EQUITY
INTEREST OF GRAPHEX TECH, WHICH IS HELD BY GRAPHEX GROUP
    * AGREED TO NEGOTIATE WITH PURCHASER FOR AT LEAST 105 DAYS
    * DURING 105 DAYS PERIOD TO NOT SEEK ALTERNATIVE DEAL WITH
BLANK-CHECK CO THAT SELLS ALL OR SUBSTANTIALLY ALL OF BUSINESS
OF GRAPHEX TECH

Source text for Eikon:  ID:nBw54JbH8a 
Further company coverage:  6128.HK 

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