Ideanomics Inc

NASDAQ:IDEX  
2.21
+0.02 (+0.91%)
4:09:47 PM EDT: $2.23 +0.02 (+0.91%)
Mergers / Acquisitions

Ideanomics Inc To Acquire Via Motors Valued At Up To $630 Mln

Published: 08/30/2021 09:15 GMT
Ideanomics Inc (IDEX) - Ideanomics to Acquire Via Motors Valued at Up to $630 Million.
Entered Into Agreement to Acquire Via Motors International in an All-stock Transaction for a 100% Ownership Stake.
‍via Motors CEO Bob Purcell Will Maintain His Leadership Role at the Company Following the Transaction.
Under the Terms of Agreement, Via Shareholders Will Receive 162 Million Shares of Ideanomics Common Stock.
‍via Shareholders Are Expected to Own About 25% of Combined Company, Excluding the Potential Earnout Payment.
‍via Shareholders Are Eligible for Potential Earnout Consideration of Up to $180 Million.
‍following Closing of Deal, Via Motors to Operate As Distinct Business Unit Reporting to Alf Poor, Co's CEO and Board of Directors.