Why Is Karaoke Products Maker Singing Machine's Stock Gaining Today?
Why Is Karaoke Products Maker Singing Machine's Stock Gaining Today?
On Friday, The Singing Machine Company, Inc. (NASDAQ:MICS) completed the acquisition of SemiCab, an artificial intelligence technology company in the global logistics space.
周五，Singing Machine Company, Inc.（纳斯达克股票代码：MICS）完成了对全球物流领域人工智能技术公司SemiCab的收购。
The transaction was structured as an asset purchase/sale. At closing, Singing Machine will issue to SemiCab 641,806 shares of its common stock, which represents approximately 10% of the company's issued and outstanding common stock as of July 3, 2024, and the assumption of approximately $2.6 million in liabilities as of March-end. The deal was announced on June 12.
该交易的结构是资产购买/出售。收盘时，Singing Machine将向SemicaB发行641,806股普通股，约占该公司截至2024年7月3日已发行和流通普通股的10％，并承担截至3月底约260万美元的负债。该交易于6月12日宣布。
"SemiCab's technology creates a compelling financial win-win for carriers and enterprise-level Fortune 1000 clients through significant cost savings and efficiencies," said Gary Atkinson, CEO.
首席执行官加里·阿特金森表示：“SemicaB的技术通过显著的成本节省和提高效率，为运营商和企业级《财富》1000强客户创造了引人注目的财务双赢。”
In addition, at closing, Singing Machine will issue to SemiCab a 20% membership interest in its newly formed wholly owned subsidiary, SemiCab Holdings.
此外，在收盘时，Singing Machine将向SemiCab发行其新成立的全资子公司半导体控股公司20％的会员权益。
As part of the deal, the company has also entered into an option agreement to purchase SMCB Solutions Private Limited, a wholly-owned subsidiary of SemiCab based in Bangalore, India. This subsidiary currently caters to the technology requirements of both businesses and serves enterprise customers in India.
作为交易的一部分，该公司还签订了期权协议，收购总部位于印度班加罗尔的SemicaB的全资子公司SmcB Solutions Private Limited。该子公司目前满足两家企业的技术需求，并为印度的企业客户提供服务。
The consideration for this portion of the transaction will involve an additional 320,903 shares of the company's common stock.
这部分交易的对价将涉及额外的320,903股公司普通股。
The transaction is anticipated to be finalized before August-end, pending regulatory compliance and approvals in India.
该交易预计将在8月底之前完成，尚待印度的监管合规和批准。
This subsidiary has generated approximately $1.4 million in sales for the last twelve-month period ended March.
该子公司在截至3月的最后十二个月期间创造了约140万美元的销售额。
Price Action: MICS shares are trading higher by 5.22% to $1.21 at last check Friday.
价格走势：周五最后一次检查时，MICS股价上涨5.22％，至1.21美元。
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
免责声明: 该内容部分是在人工智能工具的帮助下制作的，并由Benzinga编辑审阅和发布。
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