Blackboxstocks Announces $1,250,000 Private Placement Priced at $4.00 per Share
July 02 2024 - 8:30AM
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 of
all levels, announced that it has closed a private placement of its
common stock for aggregate proceeds in the amount of $1.25 million
priced at $4.00 per share.
- Blackbox will invest $1.15 million
into Evtec Aluminium and retain $100,000 for working capital for
Blackbox.io, Inc., the Company’s wholly owned operating
subsidiary.
- Blackbox is working with Evtec
Aluminium to provide custom analytics and enterprise software
solutions for their manufacturing operations.
- Evtec Aluminium will use the
proceeds to fund its growth initiatives including capital
expenditures to increase production capacity.
- Blackbox and Evtec amended the Share
Exchange Agreement dated December 12, 2023, to increase the
Blackbox percentage ownership of the combined company from 26.2% to
29.4% to reflect the investments into Blackbox and Evtec Aluminium
and preserve the value for their shareholders.
The private placement was led by a $1.15 million investment by
Quadrofoglio LLC. Blackbox CEO Gust Kepler is also participating in
the private placement with an investment of $100,000.
“We are extremely pleased to announce this private placement,”
commented Gust Kepler. “This latest round of investment, in which I
am participating, demonstrates the strong confidence we have in our
Company and the pending combination with Evtec Aluminium. While we
work to conclude our exchange acquisition, we continue to enhance
our fintech operations through our wholly owned subsidiary
Blackbox.io. We plan to utilize our unique analytics technology to
create enterprise solutions to assist Evtec Aluminium to achieve
maximum efficiency in their manufacturing operations.”
David Roberts, CEO of Evtec Aluminium, added: “The investment by
Blackboxstocks is strategically compelling for both companies and
will provide resources for capital expenditures to support our
growth initiatives.”
About Evtec Aluminium:
Evtec Aluminium is recognised as one of the world’s leading
advanced aluminium castings and machining manufacturers supplying
premium brand Original Equipment Makers (OEMS). It supplies a range
of strategic auto parts on powertrain and EV packs, as well as
body-in-white structural parts, from its world-class facilities in
the UK. Their business focuses on premium luxury brands and a
market transition to electric vehicles, with Jaguar Land Rover as
its largest customer. As a result of significant change in the
global supply chain for auto manufacturing in Great Britain that
places an increased need for local sourcing of parts, Evtec is well
positioned to expand both organically and through acquisition. For
more information, go to: www.evtec-aluminium.com
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, analysing 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
Contacts:
Investors@blackboxstocks.com
PCG AdvisoryJeff Ramsonjramson@pcgadvisory.com
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