Why Is Karaoke Products Maker Singing Machine's Stock Gaining Today?
Why Is Karaoke Products Maker Singing Machine's Stock Gaining Today?
On Friday, The Singing Machine Company, Inc. (NASDAQ:MICS) completed the acquisition of SemiCab, an artificial intelligence technology company in the global logistics space.
在星期五，The Singing Machine Company，Inc.（納斯達克股票代碼：MICS）完成了對SemiCab的收購，這是一家全球物流領域的人工智能技術公司。
The transaction was structured as an asset purchase/sale. At closing, Singing Machine will issue to SemiCab 641,806 shares of its common stock, which represents approximately 10% of the company's issued and outstanding common stock as of July 3, 2024, and the assumption of approximately $2.6 million in liabilities as of March-end. The deal was announced on June 12.
此交易採用資產購買/銷售結構。在交易完成時，Singing Machine將向SemiCab發行641,806股普通股，這表示其已發行和流通的普通股的約10％，截至2024年7月3日，以及承擔了大約260萬美元的負債。該交易於6月12日宣佈。
"SemiCab's technology creates a compelling financial win-win for carriers and enterprise-level Fortune 1000 clients through significant cost savings and efficiencies," said Gary Atkinson, CEO.
“SemiCab的技術通過顯著的成本節約和效率創造了對承運商和企業級財富1000強客戶的有力的財務雙贏，”首席執行官Gary Atkinson表示。
In addition, at closing, Singing Machine will issue to SemiCab a 20% membership interest in its newly formed wholly owned subsidiary, SemiCab Holdings.
此外，在交割時，Singing Machine還將向SemiCab發行其新成立的全資子公司SemiCab Holdings 20％的會員利益。
As part of the deal, the company has also entered into an option agreement to purchase SMCB Solutions Private Limited, a wholly-owned subsidiary of SemiCab based in Bangalore, India. This subsidiary currently caters to the technology requirements of both businesses and serves enterprise customers in India.
作爲交易的一部分，該公司還簽署了一項購買期權協議，以購買SemiCab的全資子公司SMCb Solutions Private Limited，該公司位於印度班加羅爾。該子公司目前爲兩家企業的技術需求提供服務，併爲印度的企業客戶提供服務。
The consideration for this portion of the transaction will involve an additional 320,903 shares of the company's common stock.
此交易的考慮將涉及公司普通股的另外320,903股。
The transaction is anticipated to be finalized before August-end, pending regulatory compliance and approvals in India.
該交易預計將在8月底之前完成，前提是印度的監管合規和批准。
This subsidiary has generated approximately $1.4 million in sales for the last twelve-month period ended March.
該子公司在截至3月的最後12個月的銷售額約爲140萬美元。
Price Action: MICS shares are trading higher by 5.22% to $1.21 at last check Friday.
股價表現：MICS股票價格上漲5.22％，至1.21美元。
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
免責聲明本內容部分由人工智能工具生成，並經Benzinga編輯審核和發佈。
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