urban-gro (UGRO) Stock Surges Nearly 78% After Hours — Here's Why
Bullish
75.0
urban-gro Inc. (NASDAQ:UGRO) jumped 77.71% in after-hours trading to $5.74 on Tuesday following the company’s announcement that it completed its merger with U.S.-based Flash Sports and Media, Inc.
The stock closed regular session down 10.03% at $3.23, according to Benzinga Pro data.
Here’s How the Merger Deal Is Structured
On Tuesday, the Colorado-based company acquired 100% of Flash’s outstanding shares. Under the terms of the deal, Flash shareholders will receive a capped amount of unregistered Common Stock at closing, structured to stay below the threshold requiring stockholder approval under Nasdaq Listing Rule 5635(d), which mandates approval for issuances of 20% or more of outstanding Common Stock at below the minimum price in non-public offering transactions.
The company added that
The stock closed regular session down 10.03% at $3.23, according to Benzinga Pro data.
Here’s How the Merger Deal Is Structured
On Tuesday, the Colorado-based company acquired 100% of Flash’s outstanding shares. Under the terms of the deal, Flash shareholders will receive a capped amount of unregistered Common Stock at closing, structured to stay below the threshold requiring stockholder approval under Nasdaq Listing Rule 5635(d), which mandates approval for issuances of 20% or more of outstanding Common Stock at below the minimum price in non-public offering transactions.
The company added that
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