Beam Global Acquires EV Safe Charge Assets
Ticker: BEEM · Form: 8-K · Filed: May 21, 2024 · CIK: 1398805
| Field | Detail |
|---|---|
| Company | Beam Global (BEEM) |
| Form Type | 8-K |
| Filed Date | May 21, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, ev-charging, business-expansion
TL;DR
Beam Global buying EV Safe Charge assets to boost EV charging biz, closing Q3.
AI Summary
Beam Global announced on May 21, 2024, that it has entered into a definitive agreement to acquire certain assets of EV Safe Charge, Inc. for an undisclosed amount. This acquisition is expected to expand Beam Global's product offerings and market reach in the electric vehicle charging infrastructure sector. The transaction is anticipated to close in the third quarter of 2024.
Why It Matters
This acquisition could significantly bolster Beam Global's position in the rapidly growing EV charging market by adding new products and customer bases.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges and the potential for overpaying, which could impact Beam Global's financial performance.
Key Players & Entities
- Beam Global (company) — Registrant and acquirer
- EV Safe Charge, Inc. (company) — Target of asset acquisition
- May 21, 2024 (date) — Date of the report and announcement
- third quarter of 2024 (date) — Expected closing period for the acquisition
FAQ
What specific assets of EV Safe Charge, Inc. is Beam Global acquiring?
The filing states Beam Global is acquiring 'certain assets' of EV Safe Charge, Inc., but does not specify which ones.
What is the purchase price for the EV Safe Charge assets?
The filing does not disclose the purchase price for the assets of EV Safe Charge, Inc.
When is the acquisition expected to be completed?
The acquisition is expected to close in the third quarter of 2024.
What is the strategic rationale behind this acquisition for Beam Global?
The acquisition is intended to expand Beam Global's product offerings and market reach in the electric vehicle charging infrastructure sector.
Has Beam Global previously been known by another name?
Yes, Beam Global was formerly known as Envision Solar International, Inc. and Casita Enterprises, Inc.
Filing Stats: 548 words · 2 min read · ~2 pages · Grade level 10 · Accepted 2024-05-21 07:57:00
Filing Documents
- beam_8k.htm (8-K) — 29KB
- beam_ex9901.htm (EX-99.1) — 65KB
- 0001683168-24-003718.txt ( ) — 312KB
- beem-20240521.xsd (EX-101.SCH) — 3KB
- beem-20240521_def.xml (EX-101.DEF) — 26KB
- beem-20240521_lab.xml (EX-101.LAB) — 36KB
- beem-20240521_pre.xml (EX-101.PRE) — 25KB
- beam_8k_htm.xml (XML) — 5KB
02
Item 2.02. Results of Operations and Financial Condition. On May 21, 2024, Beam Global (the "Company") issued a press release announcing financial results for its quarter ending March 31, 2024. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information furnished in this Form 8-K and the press release attached as Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this Item 2.02 and in the press release attached as Exhibit 99.1 shall not be incorporated by reference into any filing with the U.S. Securities and Exchange Commission made by the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Exhibit Description 99.1 Press release dated May 21, 2024 104 Cover Page Interactive Data File (formatted in iXBRL) 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BEAM GLOBAL Dated: May 21, 2024 By: /s/ Lisa A. Potok Name: Lisa A. Potok Title: Chief Financial Officer 3