India, March 10 -- Blackboxstocks Inc. (BLBX), a financial technology and social media hybrid platform, on Monday announced a merger agreement with REalloys Inc. The financial aspects of the deal are not revealed.
The merger is expected to close in the second quarter of 2025.
Share of Blackboxstocks are dropping in the pre-market.
As per the agreement, REalloys stockholders will own about 92.7 percent of the combined company, while Blackbox stockholders will hold 7.3 percent, based on REalloys' $400 million valuation. Blackbox stockholders will receive Contingent Value Rights or CVRs for proceeds from a potential sale of its fintech operations within 24 months.
David Argyle will become CEO of the combined company, while Gust Kepler will...