CAVU Resources Inc (CAVR)

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LiveToBeHappy announces $30M financing, acquires majority stake in HRS Construction

02:02 PM | LiveToBeHappy, Inc. (CAVR) | By: Jessica Kuruthukulangara, SA News Editor


LiveToBeHappy (CAVR +7.4%) on Monday announced a $30M term sheet to fund acquisitions, re-capitalize the business and initiate repurchase of up to 6% of outstanding stock.
CAVR also acquired a majority stake in real estate services firm HRS Construction.
The acquisition is expected to be significantly accretive to CAVR's combined 2022 net income.
"We will be executing a $30M term sheet that, upon funding, will finance additional real estate services acquisitions, pay off existing convertible debt and reduce current float by 15%," said CAVR CEO Kevin Vincent Cox.
CAVR will likely raise its revenue and profit forecast substantially in the next few weeks as it integrates HRS into the company.