EzFill Holdings Acquires EZ-Charge for $1
Ticker: NXXT · Form: 8-K · Filed: Jun 21, 2024 · CIK: 1817004
| Field | Detail |
|---|---|
| Company | Ezfill Holdings INC (NXXT) |
| Form Type | 8-K |
| Filed Date | Jun 21, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, ev-charging, definitive-agreement
TL;DR
EzFill buying EZ-Charge for a buck, closing by July 31st.
AI Summary
EzFill Holdings Inc. announced on June 20, 2024, that it has entered into a definitive agreement to acquire all outstanding shares of EZ-Charge, Inc. for $1.00. This acquisition is expected to be completed by July 31, 2024, and is subject to customary closing conditions. The company also reported its financial results for the fiscal year ended December 31, 2023, though specific figures were not detailed in this filing excerpt.
Why It Matters
This acquisition could expand EzFill's market presence and service offerings in the electric vehicle charging sector. The low acquisition cost suggests a strategic move rather than a significant financial outlay.
Risk Assessment
Risk Level: medium — The acquisition's success depends on customary closing conditions and integration, and the filing does not provide detailed financial performance for the acquired entity or the acquirer.
Key Numbers
- $1.00 — Acquisition Price (EzFill Holdings Inc. is acquiring EZ-Charge, Inc. for this nominal amount.)
- July 31, 2024 — Expected Closing Date (The acquisition of EZ-Charge, Inc. is anticipated to be completed by this date.)
Key Players & Entities
- EzFill Holdings Inc. (company) — Registrant
- EZ-Charge, Inc. (company) — Acquisition Target
- $1.00 (dollar_amount) — Acquisition Price
- June 20, 2024 (date) — Agreement Date
- July 31, 2024 (date) — Expected Closing Date
FAQ
What are the specific strategic benefits EzFill Holdings expects from acquiring EZ-Charge, Inc.?
The filing does not detail the specific strategic benefits beyond the general implication of expanding market presence and service offerings.
What are the "customary closing conditions" for the EZ-Charge, Inc. acquisition?
The filing does not specify the exact customary closing conditions for the acquisition.
What is the financial health and operational status of EZ-Charge, Inc.?
This filing excerpt does not provide specific financial or operational details for EZ-Charge, Inc.
Has EzFill Holdings Inc. provided its financial results for the fiscal year ended December 31, 2023, in this filing?
The filing indicates that financial statements and exhibits related to the fiscal year ended December 31, 2023, are included, but the specific figures are not detailed in this excerpt.
What is the rationale behind the $1.00 acquisition price for EZ-Charge, Inc.?
The filing does not explicitly state the rationale for the $1.00 acquisition price, suggesting it may be a strategic or nominal valuation.
Filing Stats: 503 words · 2 min read · ~2 pages · Grade level 11.5 · Accepted 2024-06-21 17:15:29
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value EZFL Nasdaq Capital Mark
Filing Documents
- form8-k.htm (8-K) — 36KB
- ex99-1.htm (EX-99.1) — 15KB
- ex99-1_001.jpg (GRAPHIC) — 18KB
- 0001493152-24-024792.txt ( ) — 248KB
- ezfl-20240620.xsd (EX-101.SCH) — 3KB
- ezfl-20240620_lab.xml (EX-101.LAB) — 33KB
- ezfl-20240620_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. EZFILL HOLDINGS, INC. Date: June 21, 2024 By: /s/ Yehuda Levy Name: Yehuda Levy Title: Interim Chief Executive Officer