$RWOD(Nasdaq:$10.40) has $94M to throw at $LEAS:
Makes $LEAS Value .06!
The pro forma enterprise value of the combined company is up to US$94 million, which includes up to US$54 million of cash held in the trust account of Redwoods, which is subject to redemption by Redwoods stockholders. These values exclude up to 5 million of additional earn-out shares that would be issued to ANEW stockholders if applicable stock performance-based requirements are met. The transaction, which has been unanimously approved by the boards of directors of ANEW and Redwoods, is subject to approval by their respective stockholders and other closing conditions. All cash remaining on the combined company’s balance sheet at the closing of the transaction, after the settlement of transaction-related expenses, is expected to be utilized by the combined company for working capital, growth, and other general corporate purposes. A more detailed description of the transaction terms and a copy of the definitive merger agreement will be included in a Current Report on Form 8-K to be filed by Redwoods with the United States Securities and Exchange Commission (the “SEC”) and available at www.sec.gov.
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