Strategic Asset Leasing Inc (LEAS)

[WingCityMan]

$LEAS $RWOD
“On May 30, 2023, the Company entered into a definitive merger agreement with Redwoods Acquisition Corp. (NASDAQ: RWOD; "Redwoods"), a publicly traded special purpose acquisition company, or SPAC. The transaction values the combined company at a pro forma enterprise value of approximately US$94.0
million (assuming no redemptions) with existing Company stockholders rolling over 100% of their equity into the combined company. The Company’s stockholders will be eligible to receive additional shares pursuant to an earn-out based on the combined company's stock performance following the closing of the transaction. The transaction is expected to provide approximately US$54 million of cash proceeds, assuming no redemptions by Redwoods stockholders. These values exclude up to five million of additional earn-out shares that would be
issued to The Company’s stockholders if applicable stock performance-based requirements are met. Upon completion of the transaction, the combined company will operate as ANEW MEDICAL and expects to remain listed on NASDAQ. On August 4, 2023, Redwoods filed an S-4 with the Securities and Exchange Commission. The business combination between the Company and Redwoods is anticipated to close in the fourth quarter of 2023.”