metamaterials tesla merger
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and electromagnetic waves. Metamaterial shares available in Canada. Many emerging technologies have historically been adopted by the automotive industry to improve performance, safety and comfort. META has a growing patent portfolio with three core. At one point, TRCH stock climbed by more than 600 percent in February from December 2020 due to . Shareholders have approved the deal, whose terms stipulate that Metamaterial. However, what the MF article doesn't seem to realize, is that the conversion of debt to equity is part of the merger agreement. His Substack newsletter,TLV Strategist, covers the Israel business scene. I think the short squeeze is likely to end soon thanks. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/mmat-stock-meta-materials-hits-nasdaq-as-trch-stock-merger-closes/. Torchlight shares will be static, METAs shares will be adjusted to maintain the ratio of 75% META share ownership and 25% Torchlight share ownership. Metamaterial has some interesting products at the moment. - Andr Kostolany. Of . Please. Metamaterial ( OTCPK:MMATF) is merging with Torchlight Energy Resources ( TRCH ). If it's a value stock - great. Electro Optical & Infrared Systems (EO/IR). They are composite structures, consisting of conventional materials such as metals and plastics, that are engineered by scientists to exhibit new or enhanced properties. In its. This Transaction provides our shareholders with access to the multi-billion-dollar markets that Metamaterial serves and new applications that are being revolutionized with their sustainable technologies, while still allowing our Shareholders at closing of the Transaction to participate in the proceeds of our oil and gas asset divestitures., METAs management, led by George Palikaras, has built an extraordinary award-winning cleantech company whose proprietary advanced technologies address multiple markets and improve their customers capabilities, saidGreg McCabe, Torchlights Chairman. Basically, Metamaterial shareholders get 75% of the new company. They are composite structures, consisting of conventional materials such as metals and plastics, that are engineered. I have spoken with many industry experts and received varying price targets that trended toward the upper side of the values I am presenting. TRCH shareholders will receive a 25% equity interest in the combined company, while MMAT shareholders will receive a 75% interest. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. TRKA Stock: Have Retail Investors Found a Gem in Troika Media Group? That equals $251.6/1.27 = $198M USD. In March of 2020, Torchlight decided to pivot their entire operation and and to divest all of oil and gas assets and to embark on a reverse merger with a future focused company. But . Stoking some of the chat is a merger announcement on June 11 regarding Torchlight and Metamaterial (OTCMKTS: MMATF ), which makes advanced materials. With this reverse merger Metamaterials will be brought into the main market with Torch becoming the shell company. META has a growing patent portfolio with three core. All quotes delayed a minimum of 15 minutes. We have an over 80% success rate, see our reports at whitediamondresearch.com. It all happens at the free AI Super Summit. I have no business relationship with any company whose stock is mentioned in this article. I wrote this article myself, and it expresses my own opinions. Perform your own due diligence and consult a financial professional before trading. We are very excited to showcase how metamaterials go beyond conventional materials and chemistry, to offer new and highly sustainable solutions with semiconductor precision, at kilometer scale.. The company stated that it believes it will be positioned to capture a significant portion of this market by being able to mass manufacture, on a cost-effective basis, the required holographic optical components for the augmented reality smart glasses market. These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). Torchlight Energy and Metamaterial (MMATF) announced the signing of a definite agreement on 12/14/20 for a business combination. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. I have no preference for sectors or countries - I'm as comfortable owning a part of a cement miner in Peru as holding shares in a wheat farming firm in Bulgaria. This year is weird. The deal includes plans to divest the legacy energy assets. Our Standards: The Thomson Reuters Trust Principles. Although Metamaterial has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. This transaction will enhance our ability to pursue a broad range of opportunities and attract additional world-class talent. Oil averaged $40.75 that month, Conoco Phillips acquires Concho resources in 9.7 BN all stock transaction, adding 550,000 acres in the Permian basin and 200,000 b/d. Like the other metamaterials . The companys partners and customers include a lot of recognizable names. Combine this sector with other markets like advanced materials, IoT, medical, energy, aerospace, and automotive markets, and the market opportunity grows beyond $3 trillion. Effectively, TRCH's business will be extracted from the Nasdaq listing and put aside into an OTC listing where it will go to "die". For further information: Investor Relations and Media Contacts: Graham Farrell, Harbor Access LLC (416) 842 9003[emailprotected], Mark Komonoski, Director Capital Markets and IRMetamaterial Inc. 877-255-8483[emailprotected], Torchlight Derek Gradwell Integrous Communications 512-270-6990[emailprotected],[emailprotected], Meta Materials Inc. View Details 1425 W. 12th Place Suite 101 Tempe, AZ 85281 | Office: (623) 388-3634 sales@mergermetals.com It has been our goal for META to be a NASDAQ-listed company," stated George Palikaras, President & CEO of Metamaterial. Torchlight is likely to end soon is because the company is taking advantage of the irrational share price increase and has launched a, Brooklyn ImmunoTherapeutics made a similar move. Housing Market Crash Alert: Mark Your Calendars for Feb. 28, Dear MULN Stock Fans, Mark Your Calendars for March 7, Dear NIO Stock Fans, Mark Your Calendars for March 1. I have been investing in stocks since 2007.I have no preference for sectors or countries - I'm as comfortable owning a part of a cement miner in Peru as holding shares in a wheat farming firm in Bulgaria. Metamaterial closed at only $0.58 on 12/14/20. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. META is currently trading at $2.66 I anticipate a near doubling with a successful merger vote. In 2018 META was awarded "Best New Product in Commercial Aviation" by Aviation Week Network at the 63rd Annual Laureate Awards, for metaAIR, a Laser Strike Protection solution to protect pilots from harmful laser attacks without interfering with visibility. special purpose acquisition companies (SPACs). It has gone up significantly since the merger announcement. Copyright 2023 InvestorPlace Media, LLC. Torchlight has engaged Roth Capital Partners as financial advisor and Stikeman Elliott LLP and K&L Gates LLP as legal advisors, and Metamaterial has engaged Hamilton Clark and Cormark Securities as financial advisors and Fasken Martineau DuMoulin LLP andWilson Sonsini Goodrich& Rosati P.C. Our extensive technology platform is software and AI-design driven. Intellectual Ventures' metamaterials-based system has some distinct advantages: The microwave beam can be focused and redirected with relatively high efficiency, and with no moving parts. As a result,. META is changing the way we use, interact and benefit from light. The story is narrative-driven and its not prudent to use traditional metrics such as P/S, P/E, or EV/EBITDA. 1125 N. Charles St, Baltimore, MD 21201. I am not receiving compensation for it (other than from Seeking Alpha). Not only will their loyalty be rewarded with ownership in Metamaterials, they will also retain full value in our oil and gas assets through the Special Dividend.". META is headquartered in Dartmouth, Nova Scotia and has offices in London, UK and Pleasanton, California. This will allow them to apply their embedded metamaterial and functional film elements with precision cast corrective lenses. Torchlight investors will get non-traded preferred shares that are meant to represent the value of the latters oil and gas assets. The company detailed its paying of a special dividend to its shareholders, as well as a reverse stock split. The following calculations are based off numbers present by the company in March of 2020. CFO & EVP - Ken Rice has a JD, MBA and a Master of Laws in taxation, he works as in-house counsel and is charge of financing efforts and progressing Metas medical products initiatives. These statements may be identified by words such as "estimates," "anticipates," "projects," "plans," "strategy," "goal," or "planned," "seeks," "may," "might", "will," "expects," "intends," "believes," "should," and similar expressions, or the negative versions thereof, and which also may be identified by their context. Transformational Deal to Accelerate Growth, Scale and Commercialization of Metamaterials. Metamaterials are a subset of functional materials, according to the company. for their shell and get to keep the energy business. Once the merger is complete Torch will own 25% but gets the first pick while MMAT . Torchlight cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. If a Definitive Agreement is entered into, it is expected that the closing of a transaction will include customary closing conditions, including NASDAQ and CSE approval and approval by the shareholders of both companies, in addition to the closing conditions described above. Torchlight urges you to consider those risks and uncertainties in evaluating its forward-looking statements. In December 2020, Torchlight Energy Resources and Metamaterial had announced a definitive agreement was signed for a business combination. Valuation The value oil drilling acreage is a moving target after the price of crude oil started collapsing in March of 2020. The company hasn't made any significant progress since our report with selling or developing any of its oil and gas assets. According to META, the 2nd generation manufacturing line is capable of 100,000+ units per month, to support AR and other holographic products, such as automotive HUD displays, laser glare protection, optical filters, diffractive optics, and other photonic applications. It's a. Torchlight Energy Resources, Inc. (TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary objective of acquisition and development of domestic oil fields. Torchlight Energy is currently an oil and gas exploration company. META shall appoint the 5 remaining members of the Board, which members must include the required number of independent members to maintain the NASDAQ listing requirement. And that's AFTER the merger definite agreement was announced. As Cathie Wood stated in the last ARK webinar, she is anticipating a bifurcated V-shaped recovery which will reward companies that have invested in innovation rather than in pandering to shareholders. 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