Why Industrial Company TechPrecision Shares Are Surging Today
Why Industrial Company TechPrecision Shares Are Surging Today
TechPrecision Corporation (NASDAQ:TPCS) shares are trading higher after the company announced the termination of the agreement to acquire Votaw Precision Technologies.
TechPrecision Corporation（納斯達克股票代碼：TPCS）宣佈終止收購Votaw Precision Technologies的協議後，該公司股價走高。
In particular, the company disclosed the termination of the Stock Purchase Agreement (SPA) between TechPrecision and Doerfer Corporation to acquire Votaw.
該公司特別披露了TechPrecision與Doerfer Corporation之間爲收購Votaw而簽訂的股票購買協議（SPA）的終止。
On April 2, 2024, Doerfer simultaneously notified that it was terminating the SPA effective immediately and, by a separate term sheet, offered to reinstate the SPA and extend the outside closing date in exchange for material concessions from the company.
2024年4月2日，Doerfer同時宣佈終止SPA，立即生效，並在另一份條款表中提出恢復SPA並延長外部截止日期，以換取公司的實質性讓步。
After several days of negotiating the proposed reinstatement and extension terms, the company and Doerfer failed to reach an agreement, and the SPA remains terminated.
在就擬議的復職和延期條款進行了幾天的談判之後，該公司和Doerfer未能達成協議，SPA仍處於終止狀態。
According to Section 7.02(a) (Termination Fee), Doerfer expects the company to issue 320,000 shares of TechPrecision to Doerfer and is reviewing the situation.
根據第7.02（a）條（終止費），Doerfer預計該公司將向Doerfer發行32萬股TechPrecision股票，並正在審查情況。
As part of the now terminated acquisition financing, the companies are engaged in confidential discussions with potential investors under Non-Disclosure Agreements (NDAs), under which we agreed, limited to the extent necessary, to publicly disclose certain information, including material non-public information.
作爲現已終止的收購融資的一部分，兩家公司正在根據保密協議（NDA）與潛在投資者進行保密討論。根據保密協議，我們同意在必要範圍內公開披露某些信息，包括重要的非公開信息。
On November 22, 2023, TechPrecision announced that it has entered into a definitive SPA to purchase all of the outstanding shares of Votaw for $85 million on a cash and debt-free basis.
2023年11月22日，TechPrecision宣佈已達成最終協議，以8500萬美元現金和無債務的價格收購Votaw的所有已發行股份。
Price Action: TPCS shares are up 24.84% at $4.12 on the last check Monday.
價格走勢：週一的最後一次支票中，TPCS股價上漲24.84％，至4.12美元。