EZRaider Global, Inc. completed the acquisition of E-Waste Corp. in a reverse merger transaction for approximately $250 million.
The consummation of the transactions contemplated by the LOI and the Side Letter are contingent upon the parties entering into definitive agreements and satisfaction of the closing conditions, including, but not limited to, satisfactory completion by the Company and EZ Global of all necessary technical and legal due diligence, obtaining all necessary board, shareholder, and third-party consents, including but not limited to the EIP and the completion of audited financial statements of EZ Global. On the Closing Date, the Board of Directors of E-Waste (the Board) shall consist of three (3) members of which EZ Global will appoint one and EWST will appoint two members. Upon the closing of the DS Acquisition and PPO, the Board shall increase to a total of seven (7) members, at least four (4) of whom shall be independent. The Company shall nominate four (4) directors and each of E-Waste, GEM and the Placement Agent shall nominate one (1) director. Mark Crone of The Crone Law Group acted as legal advisor for E-Waste and Lawrence W Horwitz of Lockett + Horwitz acted as legal advisor for EZ Global.
EZRaider Global, Inc. completed the acquisition of E-Waste Corp. (OTCPK:EWST) in a reverse merger transaction on September 14, 2021. EZRaider Global, Inc. entered into a merger agreement to acquire E-Waste Corp. in a reverse merger transaction on September 14, 2021. Also on September 14, 2021, private placement offering was consummated.