Meta Materials Inc. (MMAT) has released an update.
Meta Materials Inc., an advanced materials and nanotechnology company, has announced a significant reduction of its workforce by 80% due to liquidity challenges and difficulties in obtaining additional financing. The company is actively exploring strategic options which may include asset sales, securing further financing, or even a potential sale of the business itself. Amidst financial struggles, Meta Materials Inc. faces the risk of closing down facilities or having to file for bankruptcy if they cannot secure the necessary funds.
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