WaveTech Group, Inc. To List On Nasdaq Through Business Combination With Welsbach Technology Metals Acquisition Corp.; Pro Forma Enterprise Value Of The Combined Company Is Expected To Be ~$228M
$WTMA
Industrial Machinery/Components
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- WaveTech Group, Inc. has entered into a definitive business combination agreement with Welsbach Technology Metals Acquisition Corp; upon closing, the combined company will be listed on Nasdaq under the proposed new ticker WTG.
- WaveTech is a technology company specializing in next-generation battery-enhancing technologies.
- Pro forma enterprise value of the combined company is expected to be approximately $228 million with a cash balance exceeding $78 million, assuming no redemptions by WTMA shareholders and before deducting anticipated transaction expenses.
- Net proceeds at closing will allow WaveTech to scale-up its Crystal Control Technology® ("CCT") for lead acid batteries and to commercialize CCT's application to other battery chemistries.
- Business combination expected to be completed in the first quarter of 2023.