Flexible Solutions Acquires Clean Power Technologies for $1.5M
Ticker: FSI · Form: 8-K · Filed: Apr 3, 2024 · CIK: 1069394
Sentiment: neutral
Topics: acquisition, merger, corporate-action
TL;DR
FSI is buying Clean Power Technologies for $1.5M, deal expected to close April 30.
AI Summary
Flexible Solutions International Inc. announced on March 29, 2024, that it has entered into a definitive agreement to acquire all of the issued and outstanding shares of Clean Power Technologies Inc. for a purchase price of $1.5 million. This acquisition is expected to close on or about April 30, 2024, subject to customary closing conditions.
Why It Matters
This acquisition could expand Flexible Solutions International's market presence and product offerings in the clean energy sector.
Risk Assessment
Risk Level: medium — The acquisition is subject to customary closing conditions, and there is always a risk that the deal may not be completed as planned.
Key Numbers
- $1.5M — Acquisition Price (Amount Flexible Solutions International Inc. is paying for Clean Power Technologies Inc.)
Key Players & Entities
- Flexible Solutions International Inc. (company) — Registrant
- Clean Power Technologies Inc. (company) — Acquired entity
- $1.5 million (dollar_amount) — Purchase price for acquisition
- March 29, 2024 (date) — Date of definitive agreement
- April 30, 2024 (date) — Expected closing date
FAQ
What is the primary business of Clean Power Technologies Inc.?
The filing does not explicitly state the primary business of Clean Power Technologies Inc., but the name suggests involvement in clean energy technologies.
What is the expected closing date for the acquisition?
The acquisition is expected to close on or about April 30, 2024.
Are there any specific conditions that must be met for the acquisition to close?
Yes, the acquisition is subject to customary closing conditions.
What is the total purchase price for Clean Power Technologies Inc.?
The purchase price is $1.5 million.
What is the filing date of this 8-K report?
This 8-K report was filed on April 3, 2024.
Filing Stats: 441 words · 2 min read · ~1 pages · Grade level 11.6 · Accepted 2024-04-03 15:18:22
Filing Documents
- form8-k.htm (8-K) — 38KB
- ex99-1.htm (EX-99.1) — 35KB
- ex99-2.htm (EX-99.2) — 25KB
- ex99-1_001.jpg (GRAPHIC) — 5KB
- 0001493152-24-012966.txt ( ) — 288KB
- fsi-20240329.xsd (EX-101.SCH) — 3KB
- fsi-20240329_lab.xml (EX-101.LAB) — 33KB
- fsi-20240329_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
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. Date: April 3, 2024 FLEXIBLE SOLUTIONS INTERNATIONAL INC. By: /s/ Daniel B. O'Brien Daniel B. O'Brien, President and Chief Executive Officer 3