![]() ![]() With our competitors, the work is done the second your release crosses the wire. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement. We offer UNLIMITED Wordson all domestic releases. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. InvestorWire is the wire service that gives you more. For more information, visit About InvestorWire META’s achievements have been widely recognized, including being named a Global Cleantech 100 company. The company’s extensive technology platform enables leading global brands to deliver breakthrough products to their customers in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy. ![]() META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing and manufacturing sustainable, highly functional materials. Roth Capital Partners acted as financial advisor to Torchlight related to this business combination. Torchlight’s current portfolio includes assets focused in West and Central Texas where targets are established plays such as the Permian Basin. ![]() According to the previous announcement, prior to the implementation of the reverse stock split, Meta Materials (NASDAQ: MMAT) shareholders were expected to receive 3.690 shares of Torchlight common stock in exchange for each of their shares of Metamaterial Inc., resulting in Meta Material shareholders owning approximately 75% of the resulting post-merger company. In addition, the company’s common stock will begin trading on NASDAQ under the ticker symbol MMAT. As a result, after market close today, Torchlight’s name will be changed to Meta Materials Inc. Torchlight Energy Resources (NASDAQ: TRCH), an oil and gas exploration company based in Plano, Texas, has closed on its previously announced business combination with Meta Materials Inc. (NASDAQ: TRCH) Closes $1.9 Billion Merger with Meta Materials Inc. ConclusionĪs of today (June 28) Torchlight Energy Resources’ name will be changed and it will begin trading on NASDAQ under the ticker symbol MMAT so we wish MMAT to surge exceptionally well on its first day and will analyze its performance after few days.JInvestorNewsBreaks – Torchlight Energy Resources Inc. Torchlight will file a Form 8-K to disclose the final results of the stockholder vote. On J, Torchlight Energy Resources, Inc announced the results from the special meeting of its stockholders, which was held virtually earlier today in connection with the previously announced business combination transaction with Metamaterial, Inc.Īll five proposals to be voted on at the special meeting were approved by the Torchlight stockholders. On J, Torchlight Energy Resources, Inc declared a Special Dividend of Series A Preferred Stock to be issued on a one-for-one basis to Common Stockholders of Record as of the close of market trading on J(subject to adjustment for any reverse split of Torchlight’s common stock after the record date but before the dividend is paid). Torchlight shareholders will retain an approximate 25% equity whereas shareholders of Metamaterial will get 75% equity interest in a combined company. On December 14, 2020, Torchlight Energy Resources and Metamaterial Inc signed a definitive agreement for a business combination of Torchlight and Metamaterial. ![]() Torchlight’s name will be changed to “Meta Materials Inc.” and its common stock will begin trading on NASDAQ under the ticker symbol MMAT, from June 28, 2021. On June 25, 2021, Torchlight also announced the completion of necessary steps to close the business combination with Metamaterial Inc., and therefore Torchlight expects that the business combination will be effective on June 28, 2021, as of 12:01 AM EDT. Completion of the business combination with Metamaterial Inc The reverse split was approved by the stockholders of Torchlight at its Special Shareholder meeting held on June 11, 2021, and will become effective aftermarket closing on June 25, 2021. Torchlight also implemented a 1 for 2 reverse stock split of its Common Stock. On J, Torchlight Energy Resources, Inc announced that it paid the special Series A Preferred Stock dividend on a 1 for 1 basis to its stockholders of record on June 24, 2021. Special Series A Preferred Stock dividend and 1:2 stock split Completion of the business combination with Metamaterial Inc.Special Series A Preferred Stock dividend and 1:2 stock split. ![]()
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