Blackboxstocks announced a definitive agreement to acquire Evtec Aluminium Limited, a supplier of proprietary mission-critical parts for the Electric Vehicle (“EV”), Hybrid, Performance, and Luxury OEM automotive markets to brands including JLR (formerly Jaguar Land Rover), Aston Martin, Ford, Bentley, and auto suppliers including Dana, American Axle, Cox Powertrain, among others. The deal, expected to close in Q1/2024, is forecast to add $52 million in revenues to the current BLBX stream.

The deal terms will have Blackbox stockholders retaining 26.7% of the combined company’s 12,000,000 common shares post-merger plus receiving a contingent value right (“CVR”) for current Blackbox fintech operations. Additionally, Blackbox is near closing a second related acquisition of Evtec Automotive. BLBX currently owns 13% of that asset, which is expected to add over $80 million in revenues for its fiscal year. That deal is also likely to be consummated in Q1 of 2024.

Post-acquisition, BLBX is prepared to maximize its expanding market opportunities, including adding to the impressive 60% increase in year-over-year revenues at Evtec Aluminum. That mission is in progress. BLBX highlighted that Evtec has record order demand in its pipeline, with a massive $778 million in existing orders scheduled for delivery beginning in March 2024. That book has increased by roughly $430 million over the past eight (8) months and is expected to increase by at least an additional $150 million during the next three months.

Other highlights accretive to BLBX, the Evtec Group, and BLBX investors:

• Post-closing, Blackbox and Evtec Aluminum common stockholders will own 26.7% and 73.3% of the estimated 12,000,000 common shares outstanding post-merger
• Blackbox plans to acquire the remaining 87% of Evtec Automotive in Q1 of 2024.
• Evtec Automotive’s inclusion in the merger would result in Blackbox shareholders retaining 9.5% of the combined companies.
• Blackbox common stockholders of record immediately before the transaction’s closing will receive a contingent value right (“CVR’) for the net proceeds received for the sale or spin-off of the current Blackbox fintech operations within 24 months after the merger’s close. The current Blackbox operations will be moved into a new subsidiary before the closing.
• David Roberts will assume the roles of Chairman and CEO of the parent Company post-closing. Gust Kepler will continue to serve as the CEO of the Blackbox fintech operations, and Robert Winspear will remain a director and CFO of the parent.
• The transaction is expected to close in the first quarter of 2024 and is subject to customary closing conditions, including but not limited to regulatory, lender, and stockholder approval. Blackbox and Evtec plan to file a joint Registration Statement and proxy on Form S-4 as soon as practical.

Regarding the planned acquisition, Gust Kepler, Chief Executive Officer of Blackbox, commented, “This is a great transaction that delivers outstanding value for Blackbox stockholders. Not only will our stockholders retain the current value of the Blackbox operations via a contingent value right (CVR), but they will also receive a significant interest in Evtec’s operations going forward. As a subsidiary of the parent company, Blackbox’s fintech operations will continue to create and provide innovative tools and analytics for traders. We look forward to completing the transaction in Q1 2024 and delivering maximum value to our shareholders.”

Investors ahead of the announcement have been bullish on BLBX stock. Since November, BLBX shares are trading higher by over 94% to $3.85 at Tuesday’s close. With the addition of an estimated $130 million in new revenues by the end of Q1/2024, combined with a still modest O/S budget, valuation models support the continuation of that trend.

Evtec is poised to prosper in this rapidly growing market positioning itself amongst Top-Tier EV and automotive sector players, including Ford (NYSE: F), GM (NYSE: GM), Tesla (NASDAQ: TSLA), Stellantis (NYSE: STLA), and even small sector players like Rivian (NASDAQ: RIVN), Polestar (NASDAQ: PSNY), and Canoo (NASDAQ: GOEV)

About Evtec

Evtec is a UK-based business group providing complete assemblies and complex engineered components to auto manufacturers, simplifying sourcing, saving time on procurement, and increasing production efficiency. Their pick and pack service supplies aftermarket automotive products, as well as offering kitting and fulfilment for non-automotive businesses. Their business focuses on premium luxury brands and a market transition to electric vehicles and includes Jaguar Land Rover Group as their largest customer. As a result of significant change in the global supply chain for auto manufacturing in Great Britain that places an increased need for local sourcing of parts, Evtec is well positioned to expand both organically and through acquisition. For moreinformation, go to: https://www.evtec-group.com.

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