NetworkNewsBreaks – Net Element Inc. (NASDAQ: NE
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Posted On: 08/19/2020 5:15:54 PM
NetworkNewsBreaks – Net Element Inc. (NASDAQ: NETE) Clarifies Share Information in Shareholder Letter
Net Element (NASDAQ: NETE), a global technology and value-added solutions group that supports electronic payments acceptance in a multi-channel environment including point-of-sale, is sharing clarification regarding the expected number of shares that will be outstanding at closing of its pending merger with Mullen, if approved. The additional information was shared in a letter from NETE executive chairman and CEO Oleg Firer, which was released on Aug. 19, 2020. The letter noted that the merger agreement provides for a cap of 75 million outstanding shares at transaction closing, an amount that cannot be exceeded without approval from both parties. The letter also notes that this is a share maximum, with no way of knowing the actual number of outstanding shares at closing. “We continue working diligently on the pending merger with Mullen Technologies and we have taken steps to reduce operating expenses related to our payments processing business as we go through the process contemplated by the Merger Agreement,” Firer stated in the letter.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Net Element (NASDAQ: NETE), a global technology and value-added solutions group that supports electronic payments acceptance in a multi-channel environment including point-of-sale, is sharing clarification regarding the expected number of shares that will be outstanding at closing of its pending merger with Mullen, if approved. The additional information was shared in a letter from NETE executive chairman and CEO Oleg Firer, which was released on Aug. 19, 2020. The letter noted that the merger agreement provides for a cap of 75 million outstanding shares at transaction closing, an amount that cannot be exceeded without approval from both parties. The letter also notes that this is a share maximum, with no way of knowing the actual number of outstanding shares at closing. “We continue working diligently on the pending merger with Mullen Technologies and we have taken steps to reduce operating expenses related to our payments processing business as we go through the process contemplated by the Merger Agreement,” Firer stated in the letter.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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