Redishred Capital ( (TSE:KUT) ) has shared an update.
VRC Companies, LLC has completed the acquisition of Redishred Capital Corp. in an all-cash transaction valued at CA$5.00 per share. As a consequence of this acquisition, Redishred’s shares will be delisted from the TSX Venture Exchange, and the company will cease to be a reporting issuer under Canadian securities laws. This strategic move could enhance VRC’s position in the information governance market, as Redishred’s operations align with VRC’s aim to increase productivity and reduce costs for enterprise and SMB-sized companies throughout the information lifecycle.
More about Redishred Capital
Redishred Capital Corp. is a company that owns the brands PROSHRED®, PROSCAN, and secure e-Cycle, focusing on digitizing, securing, shredding, and recycling confidential documents and proprietary materials in the United States. It operates in the mobile document destruction and recycling industry, providing digital retention, secure shredding, and recycling services globally. The company supports its growth through franchising and acquiring information security businesses that offer stable cash flow.
YTD Price Performance: 1.64%
Average Trading Volume: 58,065
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$91.31M
For an in-depth examination of KUT stock, go to TipRanks’ Stock Analysis page.