What the following means is that Titan will seize the assets that are collaterized by the debt they bought. Nexus shareholders will own a company with no assets. What do you think that is worth? Zero. Save your dough, guys.
Titan Global Holdings, Inc., a high-growth diversified holding company, today announced its definitive strategic plan to spin out Titan’s Electronics Group.
The announcement follows Titan’s acquisition of the various secured debt and equity instruments secured with the assets of Nexus Nano Electronics, Inc. (“Nexus”). Titan intends to exercise its legal rights as its lender to obtain ownership of Nexus’ assets. Titan will combine Nexus with the operations of its Titan Electronics Group, creating synergies and efficiencies. Titan Electronics Group includes its legacy PCB divisions of Titan PCB East and Titan PCB West.
