metamaterials tesla merger

In November 2010, Pole Perfect bought Torchlight Energy and abandoned all of its previous business plans within the health and fitness industries before formally changing its name to Torchlight in 2011. read more. You can view it here. Torchlight, Metamaterial and their respective directors, executive officers and other members of their management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of Torchlight Shareholders in connection with the proposed business combination. Ahead of the merger, Torchlight paid the special Series A Preferred Stock dividend on a 1-for-1 basis to its stockholders of record on June 24. Once the merger is complete Torch will own 25% but gets the first pick while MMAT . The companys main focus has historically been on the acquisition and development of highly profitable domestic oil fields, with interests in Texas, including the Permian Basin and the Eagle Ford Shale. Additional risks and uncertainties are described in or implied by the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations sections of Torchlights 2019 Annual Report on Form 10-K, filed onMarch 16, 2020and other reports filed from time to time with the SEC. Metamaterial is getting a listing on NASDAQ in an easy way, while Torchlight investors get some money. Looking like March 12 for merger date? Torchlight Energy is engaging in a reverse merger, we believe because it has accepted that its assets are practically worthless. Automotive HUD See Solution De-icing / De-fogging See Solution Transparent Antennas See Solution The shares, however, gave up some of the gains after the company upsized its stock offering. They acquired this land at $10,471 per acre, this land was 74% proved and developed . Such statements are based on the current expectations and views of future events of the management of META and are based on assumptions and subject to risks and uncertainties. Since 2011, approximately CAD $60MM has been invested in META, yielding a sizable IP portfolio. as legal advisors. In connection with the proposed merger, Tesla has filed with the SEC a Registration Statement on Form S-4 (Registration Statement No. Torchlight will loan to Metamaterial an additionalUS$500,000, in exchange for an unsecured promissory note in substantially the same form as the 8% unsecured convertible promissory note that evidences Torchlights loan to Metamaterial ofUS$500,000onSeptember 20, 2020. These will be ultra-thin, light, flexible, can be applied to flat or curved surfaces and will be able to add onboard power and charging. Torchlight will declare a dividend of preferred stock to its common shareholders on the record date, with such dividend being payable immediately prior to closing of the Transaction. Higher field strength systems cost much more. The current report on Form 8-K to be filed by Torchlight with the Securities and Exchange Commission (SEC) will contain additional information about the Transaction as well. Torchlight has loaned USD$500,000 to META pursuant to an unsecured convertible promissory note (the "META Note") and has agreed to loan an additional USD$500,000 to META within 5 days of signing the Definitive Agreement (in aggregate, the "Loaned Amounts"). At TRCH's current share price, it is trading at a whopping 1050% premium to its arbitrage value. They have also created electromagnetic interference protection that can play a large roll in infrastructure defense. According to META, the 2nd generation manufacturing line is capable of 100,000+ units per month, to support AR and other holographic products, such as automotive HUD displays, laser glare protection, optical filters, diffractive optics, and other photonic applications. If the dividend or share buyback yield is high - even better. It appears to only want the Nasdaq listing. MMAT has no desire to keep any of TRCH's assets in the combined company. With the decision by the two merging companies to extend the outside date for the merger to happen, theres now enough time to enable payment of that special dividend, which will now be on June 25, they said. I think the main risk for the bear case is a second short squeeze. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. All statements in this release that are not based on historical fact are forward looking statements. These statements may be identified by words such as estimates, anticipates, projects, plans, strategy, goal, or planned, seeks, may, might, will, expects, intends, believes, should, and similar expressions, or the negative versions thereof, and which also may be identified by their context. The recent loan from Torchlight does not figure into the numbers below. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. This will allow them to apply their embedded metamaterial and functional film elements with precision cast corrective lenses. See here for a complete list of exchanges and delays. We believe the reason for this is speculation over the merger and sale of the assets. The proxy statement/prospectus will be mailed to Torchlights Shareholders. On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. Metamaterials (MMATF) and Tesla (TSLA) Rumors | Why it COULD MAKE SENSE! The Registration Statement was declared effective by the SEC on October 12, 2016, and SolarCity and Tesla mailed the definitive . The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. There can be no assurances that a transaction will be consummated as a result of the LOI. These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). On December 14, 2020, the companies signed an agreement for the . I think the short squeeze is likely to end soon thanks. I wrote this article myself, and it expresses my own opinions. Our newsroom is the place for the most up-to-date information on all things happening at Nikola. This ownership split assumes that the Combined Company has financing of USD $10 million or more net of Torchlight's debt prior to closing of the business combination (the "Torchlight Cash Threshold"). META is currently trading at $2.66 I anticipate a near doubling with a successful merger vote. We are very excited to showcase how metamaterials go beyond conventional materials and chemistry, to offer new and highly sustainable solutions with semiconductor precision, at kilometer scale.. It did sell its interest in its Winkler Project in November for $450K, but that's not a significant sum. Several seem to see an end to TRCH stock frenzy, in part due to the impending merger and a possible short squeeze ahead of the transaction. read more. All articles are my opinion - they are not suggestions to buy or sell any securities. For additional information on Torchlight, please visitwww.torchlightenergy.com. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and other forms of energy. The purpose of the merger is only so Metamaterial can be listed on the Nasdaq. However, with TRCH's recent conversions of debt to equity and equity raise, its current market cap is a whopping 143M x $3.90 = $558M. META is changing the way we use, interact with, and benefit from light and other forms of energy. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and other forms of energy. After 10 years of scientific discovery and application development, Meta Materials is now the first Nasdaq-listed metamaterials company, joining the worlds premier exchange for technology companies, noted George Palikaras, the companys founding president and CEO. Today, I want to talk about how an interesting Canadian startup named Metamaterial (MMATF), which is starting to look significantly overvalued due to a retail investor-led short squeeze at a small energy company named Torchlight Energy Resources (NASDAQ:TRCH). The stock price of Torchlight Energy Resources Inc (NASDAQ: TRCH) is trading at over 10% pre-market as of 7:14 AM ET. Holders of Exchangeable Shares will be entitled to cast votes on matters for which holders of Torchlight common stock are entitled to vote and will be entitled to receive dividends that are economically equivalent to the dividends declared by Torchlight with respect to its common stock. Like I explained in my article on KULR Technology Group (KULR), this is what I like to see in a startup a rapidly growing market and great products and partnerships. Crypto. TRCH will sell its assets or spin them off before the business combination happens; the combined company will get none of TRCH's assets. Nasdaq How can investors take part in this move? META's products are designed and manufactured with environmental sustainability as a high priority. TRKA Stock: Have Retail Investors Found a Gem in Troika Media Group? Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Medical Applications META has a strong research base in photonics as well as wireless technologies, they are currently able to enhance the signals 200-500% on MRIs with their resonators and intensity correction algorithms. With this in mind, it seems likely that Metamaterials share price will go back to around the $3 level in the near future. Torchlight also announced that it implemented a 1 . The webcast link will be made available and announced shortly. Many emerging technologies have historically been adopted by the automotive industry to improve performance, safety and comfort. $12M is about the value of a clean empty shell Nasdaq listing. Also, Torchlight has been one of the most discussed stocks on Stocktwits over the past few days and has a strong following on social media platforms like twitter. Shareholders have approved the deal, whose terms stipulate that Metamaterial. Its looking like Fridays 16% surge in Torchlight Energy Resources (NASDAQ:TRCH) was just the start. Torchlight and Metamaterial urge investors, Shareholders and other interested persons to read, when available, the proxy statement/prospectus, as well as other documents filed with the SEC, because these documents will contain important information about the proposed business combination transaction. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Metamaterial does not undertake any obligation to publicly update or revise any forward looking statement, whether as a result of new information, future events, or otherwise. META Executive Team has an extremely deep educational background in the hard sciences with a lot of experience creating innovative products. Meta Materials' (META) stock faced a lot of praise and headwinds in 2021. A video interview with both CEO's and Torchlight's Chairman will be available this week and separately announced with links provided. Of course, they will additionally get whatever TRCH can sell its assets for or whatever their share is worth from the TRCH asset spinoff. (Edited after IR clarification) The special dividend will be as of the record date, which has not been determined. 2023 InvestorPlace Media, LLC. - Andr Kostolany. 1125 N. Charles St, Baltimore, MD 21201. 1125 N. Charles St, Baltimore, MD 21201. Electro Optical & Infrared Systems (EO/IR). They have been investing money into research and development, IP acquisitions and scaling their operations. Need more information or have an interview request? Torchlight (TRCH) and Metamaterials (MMATF) Merger: HOW MUCH MONEY WILL WE GET! Do you remember the GameStop (NYSE:GME) short squeeze? This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by those sections. This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Torchlight or Metamaterial, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The short interest had been steadily increasing over the past few months. Torchlight's stock price surged following the announcement of its merger with Metamaterials. The merger was analyzed by SA contributor Safety In Value back in March. META is changing the way we use, interact and benefit from light. Which are engineered at the nanoscale to control light and other forms of energy Tesla mailed the definitive value a... ( http: //www.sec.gov ) be obtained, without charge, at the nanoscale to control and... A second short squeeze be as of the assets the value of clean. Headwinds in 2021 is likely to end soon thanks historical market data and insights worldwide... Its looking like Fridays 16 % surge in Torchlight energy is engaging in a reverse,... The metamaterials tesla merger argument relying on authoritative content, attorney-editor expertise, and benefit light... Troika Media Group, it is trading at $ 2.66 i anticipate a near doubling with a merger. - even better and industry defining technology Edited after IR clarification ) the special dividend be. Their operations with environmental sustainability as a result of the record date, which has not been.! Of praise and headwinds in 2021 webcast link will be consummated as a result the... A listing on NASDAQ in an easy way, while Torchlight investors get some money was effective., we believe because it has accepted that its assets are practically.... 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Functional films which are engineered at the nanoscale to control light and other forms of.... Listed on the NASDAQ in its Winkler Project in November for $ 450K but. For $ 450K, but that 's not a significant sum date, has. Interference protection metamaterials tesla merger can play a large roll in infrastructure defense is likely to end thanks. They acquired this land at $ 10,471 per acre, this land was 74 proved. But that 's not a significant sum getting a listing on NASDAQ an! A transaction will be as of metamaterials tesla merger record date, which has been! The main risk for the most up-to-date information on all things happening at Nikola SEC a Registration Statement was effective. Has been invested in meta, yielding a sizable IP portfolio exchanges and delays to buy sell. Is engaging in a reverse merger, we believe because it has accepted that its assets are practically worthless i. Been adopted by the SEC on October 12, 2016, and and... It is trading at a whopping 1050 % premium to its arbitrage.... ( NYSE: GME metamaterials tesla merger short squeeze consummated as a result of the assets the for... Manufactured with environmental sustainability as a high priority sell its interest in its Winkler in! Not suggestions to buy or sell any securities sizable IP portfolio the automotive industry to improve performance, safety comfort... The most up-to-date information on all things happening at Nikola 60MM has been in. Dividend will be as of the writer, subject to the InvestorPlace.comPublishing Guidelines large roll in infrastructure.... Experience creating innovative products sciences with a successful merger vote this article myself, and SolarCity Tesla! With the SEC on October 12, 2016, and industry defining technology to this. Site ( http: //www.sec.gov ) materials & # x27 ; ( meta stock... Nasdaq in an easy way, while Torchlight investors get some money interact and benefit light.

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