By Katherine Hamilton
Blackboxstocks and Evtec Aluminium mutually agreed to terminate a share exchange agreement, the companies said.
The agreement, executed in December 2023, was meant to allow Evtec to become a wholly owned subsidiary of Blackboxstocks, which is a financial technology and social media platform.
Blackboxstocks will also withdraw its registration statement with the Securities and Exchange Commission in connection with the proposed share exchange, it said Friday.
The protracted time frame to complete the share exchange presented several challenges and Blackboxstocks couldn't afford to incur additional costs from further delays, Chief Executive Gust Kepler said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
January 17, 2025 16:55 ET (21:55 GMT)
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