Accredited Solutions, Inc. (OTC: ASII) has announced a significant strategic move by signing a Letter of Intent (LOI) with Everest Consolidator Acquisition Corporation (EVCO) to merge and list on the Nasdaq exchange. The proposed transaction would result in ASII shareholders owning approximately 70% of the combined entity, without requiring a reverse stock split.
The merger comes at a critical time in the Special Purpose Acquisition Company (SPAC) market, where many firms have faced challenges finding suitable merger candidates. This evolving landscape has created opportunities for smaller companies like Accredited Solutions to pursue more cost-effective listing strategies.
Eduardo Brito, CEO of Accredited Solutions, highlighted the potential benefits of the Nasdaq listing, emphasizing increased visibility, enhanced credibility, and improved access to institutional investors. These factors are expected to enable the company to secure more affordable capital and accelerate its acquisition strategy.
Under the proposed agreement, EVCO will acquire 100% of ASII through a share exchange transaction. The companies anticipate finalizing a definitive merger agreement within 30 days, with a targeted closing within 150 days, contingent upon customary approvals and conditions.
As a technology-focused holding company, Accredited Solutions is dedicated to acquiring and growing businesses in fintech, blockchain, and digital assets. The merger with EVCO represents a potential milestone in the company’s long-term growth strategy, positioning it for expanded market opportunities and increased shareholder value.
This news story relied on a press release distributed by NewMediaWire. Blockchain Registration, Verification & Enhancement provided by NewsRamp™. The source URL for this press release is Accredited Solutions Set to Merge with EVCO, Eyes Nasdaq Listing.