Global Technologies acquires EV infrastructure developer GOe3

Global Technologies, a real estate acquisition and development company, has announced to acquisition of electric vehicle (EV) infrastructure services firm GOe3 LLC.

This deal will happen through a non-binding Letter of Intent (LOI) to complete the acquisition.

In terms of operations, GOe3 will conduct business as a wholly-owned subsidiary of Global Technologies. The proposed transaction will be structured as a share-for-share exchange and the company’s shareholders will retain 30% and GOe3 will receive 70% of the combined company shares.

Global Technologies will designate a new preferred stock to issue to the GOe3 members in exchange for the membership units.

Also, the company will name a new company president and appoint a new board of directors. There’s also a plan to apply for an uplist to a national exchange or at NASDAQ.

GOe3

Furthermore, the proposed transaction is expected to close in the first quarter of CY 2024. The transaction will be considered a reverse merger because the members of GOe3 will own more than a majority of the outstanding common stock of the company after the completion of the proposed transaction.

GOe3 is known for its capability of building a network of fast-charging stations for electric vehicles, strategically located along interstate highways.

GOe3 also offers digital platform services including its phone app and business portal which allows users to locate charging stations, track charge status, pay for charging, and access other features like booking hotels and finding discounts.

(source)