Connect with us

Hi, what are you looking for?

Investing

SCWorx Agrees to Acquire American Energy Partners

By Stephen Nakrosis


SCWorx said on Friday it entered into a letter of intent to acquire American Energy Partners, an environmental services company headquartered in Pennsylvania.

The deal will be considered a “reverse merger” and will see SCWorx shareholders retaining 17% and American Environmental receiving 83% of the combined company.

SCWorx also said it expects the deal to be structured as a share-for-share exchange.

A $6 million capital raise by American Environmental is a condition to completion of the planned transaction.

The deal has been approved by the boards of both companies, and is expected to close in the first quarter of 2024, SCWorx said.

Also, SCWorx said “effective October 30, 2023, American Energy Partners, Inc.’s name will be changed to ‘American Environmental Partners, Inc.’, subject to regulatory approval.”


Write to Stephen Nakrosis at [email protected]


Read the full article here

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Videos

Watch full video on YouTube

Videos

Watch full video on YouTube

Videos

Watch full video on YouTube

Videos

Watch full video on YouTube