Cleantech Solutions International (CLNT) Shares Skyrocket +100% After Entering Share Swap Agreement


 
 
10:54 11/22/2017

A manufacturer of high precision metal components and parts, Cleantech Solutions International CLNT , announced that their subsidiary, Vantage Ultimate Limited, has entered a conditional share swap agreement with Marvel Finance to acquire Marvel’s 51% interest in the share capital of Integrated Media Technology IMTE .

During pre-market trading this morning, shares of Cleantech CLNT , jumped 179% on record-breaking volume for the company. It has since calmed down but sits strong up 105%. Cleantech also broke their 52-week high with share prices hitting $12.40.

Integrated Media Technology IMTE  shares also saw huge movement this morning with prices rising 34.8% hitting an all-time high of $9.60 a piece.

Terms of the deal include Marvel Limited to transfer 51% of Integrated IMTE  capital to Cleantech Solutions. In exchange, Cleantech will issue 19.5% of common stock and a 5-year interest-free promissory note of approximately $11.4 million to Marvel.

Parkson Yip, COO of Cleantech Solutions said, “We are excited about our collaboration with Dr. Herbert Lee, Founder and CEO of IMT, as we explore the development of advanced technologies. Dr. Lee has extensive experience in technology research and development management, particularly in knowledge management systems and 3D autostereoscopic displays.”

With this deal, Cleantech CLNT  can make valued contributions that will allow them to improve technological abilities and advance their products and services in a more cost-effective and customer-driven manner.


This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
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