Keyarch Calls Meeting to Vote on ZOOZ Power Deal

Keyarch Acquisition and ZOOZ Power Ltd. jointly announced that the registration statement on their proposed business combination was declared effective by the SEC. Accordingly, Keyarch will hold ashareholders meeting to vote on the deal March 27 at 9 a.m. Eastern.

The is a provider of flywheel-based power boosting solutions for the charging infrastructure market.

The termination date is April 1, when either side can walk away from the transaction if it has not closed.

The deal was announced last July at an equity value of up to $100 million. There is a minimum $10 million cash consideration to close.

The equity value reflects $60 million at closing and up to $40 million of additional contingent consideration through the earnout shares.

Israel-based ZOOZ (formerly known as Chakratec Ltd) was established in 2013.

Keyarch raised $115 million in a February 2022 Read more.

Source: Keyarch Calls Meeting to Vote on ZOOZ Power Deal