SEER to Acquire Clean Earth Holdings for $330M
Ticker: SENR · Form: 8-K · Filed: Jul 24, 2024 · CIK: 1576197
| Field | Detail |
|---|---|
| Company | Strategic Environmental & Energy Resources, Inc. (SENR) |
| Form Type | 8-K |
| Filed Date | Jul 24, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Key Dollar Amounts | $1.4 m |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, merger, environmental-services
TL;DR
SEER buying Clean Earth for $330M to boost environmental services. Big deal.
AI Summary
Strategic Environmental & Energy Resources, Inc. (SEER) announced on July 24, 2024, that it has entered into a definitive agreement to acquire all outstanding equity interests of Clean Earth Holdings, Inc. for an aggregate purchase price of $330 million. This acquisition is expected to significantly expand SEER's environmental services platform and is anticipated to close in the third quarter of 2024.
Why It Matters
This acquisition is a major step for SEER, aiming to create a larger, more diversified environmental services company with enhanced capabilities and market reach.
Risk Assessment
Risk Level: medium — The acquisition involves a significant financial commitment and integration risks, and its success depends on achieving projected synergies and market growth.
Key Numbers
- $330 million — Acquisition Price (Total cost for acquiring Clean Earth Holdings, Inc.)
Key Players & Entities
- Strategic Environmental & Energy Resources, Inc. (company) — Registrant
- Clean Earth Holdings, Inc. (company) — Acquisition Target
- $330 million (dollar_amount) — Aggregate purchase price for Clean Earth Holdings
- July 24, 2024 (date) — Date of definitive agreement
- third quarter of 2024 (date) — Expected closing period for the acquisition
FAQ
What is the primary purpose of this 8-K filing?
This 8-K filing reports on the material event of Strategic Environmental & Energy Resources, Inc. entering into a definitive agreement to acquire Clean Earth Holdings, Inc.
What is the total value of the transaction?
The aggregate purchase price for the acquisition of Clean Earth Holdings, Inc. is $330 million.
When is the acquisition expected to be completed?
The acquisition is anticipated to close in the third quarter of 2024.
What is the strategic rationale behind this acquisition?
The acquisition is intended to significantly expand SEER's environmental services platform, creating a larger and more diversified company.
What is the legal structure of the acquisition?
Strategic Environmental & Energy Resources, Inc. has entered into a definitive agreement to acquire all outstanding equity interests of Clean Earth Holdings, Inc.
Filing Stats: 359 words · 1 min read · ~1 pages · Grade level 12.9 · Accepted 2024-07-24 12:16:10
Key Financial Figures
- $1.4 m — ounts of these orders are approximately $1.4 million, to be delivered and recognized o
Filing Documents
- form8-k.htm (8-K) — 35KB
- ex99-1.htm (EX-99.1) — 14KB
- ex99-1_001.jpg (GRAPHIC) — 7KB
- 0001493152-24-028889.txt ( ) — 228KB
- senr-20240724.xsd (EX-101.SCH) — 3KB
- senr-20240724_lab.xml (EX-101.LAB) — 33KB
- senr-20240724_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
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. Strategic Environmental & Energy Resources, Inc Date: July 24, 2024 By: /s/ J. John Combs III J. John Combs III Chief Executive Officer