Blackboxstocks, Inc. and Evtec Aluminium Limited Mutually Agree to Terminate Share Exchange Agreement
DALLAS, Jan. 17, 2025 (GLOBE NEWSWIRE) -- Blackboxstocks Inc. (NASDAQ:BLBX), ("Blackbox" or the "Company"), a financial technology and social media hybrid platform offering real-time proprietary analytics for stock and options traders, announced today that on January 13, 2025 the Company and Evtec Aluminium Limited ("Evtec") mutually agreed to terminate the Share Exchange Agreement executed on December 12, 2023 and amended on July 1, 2024 which would have resulted in Evtec becoming a wholly owned subsidiary of the Company. The Company will also withdraw its registration statement on form S-4 filed with the Securities and Exchange Commission in connection with the proposed share exchange.
Gust Kepler, Chief Executive Officer of Blackbox, commented, "We were fully committed to completing the merger with Evtec, and we continue to hold the company and its management in the highest regard. Unfortunately, the protracted time frame to complete the share exchange presented a number of hurdles outside of our control. We could not afford to incur any additional costs due to unforeseen delays. We wish Mr. Roberts and his team at Evtec all the best and believe the company has a bright future ahead of them."
David Roberts, Chief Executive Officer of Evtec, commented, "We too are disappointed about not being able to complete the transaction with Blackbox. Despite substantial effort by both companies to get this done, we believe it to be in the best interests of both our companies to terminate the deal and we wish Blackboxstocks and their team the very best of luck in the future."
About Blackboxstocks, Inc.
Blackboxstocks, Inc. is a financial technology and social media hybrid platform offering real-time proprietary analytics and news for stock and options traders of all levels. Our web-based software employs "predictive technology" enhanced by artificial intelligence to find volatility and unusual market activity that may result in the rapid change in the price of a stock or option. Blackbox continuously scans the NASDAQ, New York Stock Exchange, CBOE, and all other options markets, analyzing over 10,000 stocks and up to 1,500,000 options contracts multiple times per second. We provide our users with a fully interactive social media platform that is integrated into our dashboard, enabling our users to exchange information and ideas quickly and efficiently through a common network. We recently introduced a live audio/screenshare feature that allows our members to broadcast on their own channels to share trade strategies and market insight within the Blackbox community. Blackbox is a SaaS company with a growing base of users that spans over 40 countries; current subscription fees are $99.97 per month or $959.00 annually.
For more information, go to: https://blackboxstocks.com/.
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Disclosure Information
Blackboxstocks uses and intends to continue to use its Investors website at https://blackboxstocks.com/company-overview as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor the Company's Investors website, in addition to following the Company's press releases, SEC filings, public conference calls, presentations and webcasts.
Contacts:
PCG Advisory
Jeff Ramson
(646) 863-6893
[email protected]
