ALYI - Alternet to finalize investment terms for electric mobility initiative
June 25 2020 - 2:48PM
InvestorsHub NewsWire
via Seeking Alpha -- June 25, 2020 1:57 PM ET --
About: Alternet Systems, Inc. (ALYI) |
By: Khyathi Dalal, SA News
Editor
Alternet Systems
(OTCPK:ALYI +70.7%) plans to finalize terms and execute a letter of
intent on June 30, 2020 for a $25M first tranche investment, based
on valuation of ~$0.05 per share, to fund its $300M electric
mobility initiative in Africa.
As per the terms,
~$50M pre-money valuation of ALYI would be given in consideration
of the initiative which will lead to the investor becoming the
controlling shareholder. Management change is not a part of the
investment.
A second tranche
at valuation is planned before the end of 2020. The planned ALYI
investment is one component of an overall $100M initial
cryptocurrency offering strategy.
Initially,
Alternet would launch the commercial production of its own ReVolt
Electric Motorcycle in Africa.
See original publication: https://seekingalpha.com/news/3586264-alternet-to-finalize-investment-terms-for-electric-mobility-initiative
Alternet Systems (CE) (USOTC:ALYI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Alternet Systems (CE) (USOTC:ALYI)
Historical Stock Chart
From Apr 2023 to Apr 2024
