This is a positive development IMO. They conducted a raise late last year of $10mil at 28c. If they require an additional raise to execute this transaction it must be significant.
This needs to add solid earnings to the business to justify this move. Looking for a cash generative/positive EBITDA acquisition which has a major project attached. If it is similar to UWL and SDV recent acquisitions where there is focus on blending/inorganic growth + cost efficiencies with integrating supply chain/IT/admin infrastructure that is the best case scenario. That will truly signal to the market EVS is on right path to high growth in this space.
EVS Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
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