Solid State is acquiring Custom Power, a California-based battery systems manufacturer and energy solutions provider, for up to $45.0m (c £36.0m) in cash. It is raising up to £27.2m (gross) through a placing and open offer at 1,025p/share to partly finance the acquisition. Management believes that the acquisition will be earnings enhancing in its first full year (FY24).
14 Jul 2022
Solid State - Step change in Power capabilities
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Solid State - Step change in Power capabilities
Solid State plc (SOLI:LON) | 1,355 0 0.0% | Mkt Cap: 153.7m
- Published:
14 Jul 2022 -
Author:
Anne Margaret Crow -
Pages:
2
Solid State is acquiring Custom Power, a California-based battery systems manufacturer and energy solutions provider, for up to $45.0m (c £36.0m) in cash. It is raising up to £27.2m (gross) through a placing and open offer at 1,025p/share to partly finance the acquisition. Management believes that the acquisition will be earnings enhancing in its first full year (FY24).