Advent Technologies Inc. to Combine With Spac AMCI
Advent Technologies Inc. to Combine With AMCI Acquisition Corp., Creating a Leading Next Generation Fuel Cell Technology Company
dvent has a proven business model – Advent has a proven, scalable business model that delivers consistent and recurring revenue, with an approximately $100m revenue opportunity per 1GW of customer demand.
Support from Advent shareholders – Advent’s existing shareholders will be rolling 100% of their equity into the combined company (subject to Advent stockholder approval of the transaction) exhibiting their confidence in the growth prospects of Advent.
The business combination values Advent at a $358 million pro forma post-money enterprise value at a share price of $10.00, assuming no redemptions by AMCI shareholders and no purchase price adjustments. The boards of directors of both Advent and AMCI have unanimously approved the proposed transaction, which is expected to be completed in the fourth quarter of 2020 or early 2021
AMCI will also amend its warrants at the closing of the business combination to cash-out all of its outstanding warrants for a payment of $1.50 per warrant
finance.yahoo.com/news/advent-technologies-inc-combine-amci-120000073.html
dvent has a proven business model – Advent has a proven, scalable business model that delivers consistent and recurring revenue, with an approximately $100m revenue opportunity per 1GW of customer demand.
Support from Advent shareholders – Advent’s existing shareholders will be rolling 100% of their equity into the combined company (subject to Advent stockholder approval of the transaction) exhibiting their confidence in the growth prospects of Advent.
The business combination values Advent at a $358 million pro forma post-money enterprise value at a share price of $10.00, assuming no redemptions by AMCI shareholders and no purchase price adjustments. The boards of directors of both Advent and AMCI have unanimously approved the proposed transaction, which is expected to be completed in the fourth quarter of 2020 or early 2021
AMCI will also amend its warrants at the closing of the business combination to cash-out all of its outstanding warrants for a payment of $1.50 per warrant
finance.yahoo.com/news/advent-technologies-inc-combine-amci-120000073.html
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