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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

Benzinga Real-time News · Nov 1, 2022 06:04

WTMAU +0.00% MTAL -0.91% WTMA +0.09%

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.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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