TLSS extends Patriot Glass Solutions deal deadline to Oct. 1, 2026
Bitget2026/09/23 20:31- Transportation and Logistics Systems extended its planned acquisition of an 80% stake in Patriot Glass Solutions, including four nanotechnology patents.
- Closing deadline moved to Oct. 1, 2026; due diligence deliverables and financial statement deadlines extended to Sept. 25, 2026.
- Deal consideration set at USD 4.75 million, payable in 47,500 shares of Series J Senior Convertible Preferred Stock with a USD 100 stated value.
- Transaction remains contingent on audited 2024 and 2025 PGS financials, interim 2026 financials, due diligence, and landlord consent.
- PGS manager Michael Wanke will retain 20%; closing requires an employment agreement with PGS to be finalized before due diligence expires.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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