Second Street Capital, Inc. Announces Reincorporation and Name Change Acquisition, Merger, Takeover Announcement | 02/28/2022
February 28, 2022
OTC Disclosure & News Service
Deerfield Beach, FL —
Second Street Capital, Inc. (OTC Pink:CTON) (the "Company") announced today that it has completed the reincorporation of the Company from the State of New Jersey to the State of Nevada. The reincorporation changes the law applicable to the Companys affairs from New Jersey to Nevada and was accomplished by the merger of the Company with and into its wholly owned subsidiary, Life Electric Vehicles Holdings, Inc., a Nevada corporation. As a result of the merger, the Companys name has been changed to Life Electric Vehicles Holdings, Inc. and the separate existence of Second Street Capital, Inc. has ceased. Holders of common stock of Second Street Capital, Inc. will receive one share of common stock of Life Electric Vehicles Holdings, Inc. for each share of Second Street Capital, Inc. that they hold without any action of shareholders required.
The change in the Companys name and a proposed change in the trading symbol for the Companys Common Stock is currently being processed by FINRA. The Company will continue to file reports with OTC Markets under the name Second Street Capital, Inc. until the processing of the name change is completed by FINRA.
About Life Electric Vehicles Holdings, Inc.: Life Electric Vehicles Holdings, Inc., a Nevada corporation, is the successor to Second Street Capital, Inc., a New Jersey corporation previously involved in organizing loan facilities for small and medium-sized businesses, as an alternative to traditional bank loans. The Company has no current operations. The Company underwent a change of control in September 2021 with Life Electric Vehicles, Inc. having acquired approximately 71% of the Companys outstanding common stock. The Company previously announced its plan to acquire Life Electric Vehicles, Inc. by way of a share exchange following the reincorporation of the Company in Nevada. The share exchange is expected to be completed in March 2022.
