Exro Technologies (TSE:EXRO) has released an update.
Exro Technologies Inc. has successfully completed its acquisition of SEA Electric, resulting in the issuance of a significant number of common and preferred shares and transforming SEA Electric into an indirect wholly-owned subsidiary. The merger has led to leadership changes with SEA Electric’s CEO and a director joining Exro’s board, while two Exro directors stepped down. The financial maneuvering included a private placement offering that raised approximately $27.85 million to fund the newly combined company’s strategic plans.
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