Skyline Builders Group Holding Ltd. (NASDAQ:SKBL) surged over 12% during Thursday’s regular session before dropping more than 18% in after-hours trading after the company announced a proposed business combination agreement with Cove Kaz Capital Group and related entities.
Transaction Agreement
Skyline Builders Group announced it has entered into a Transaction Agreement with SKBL Merger Sub Inc., Cove Kaz Capital Group LLC, and Kaz Resources LLC to pursue a complex business combination.
As part of the deal, a new entity will be formed in the Astana International Financial Centre, and Kaz Critical Minerals LLP will be merged into this new entity. The transaction also includes restructuring steps such as Cove Kaz converting into a Delaware corporation and being renamed “Kaz Resources Inc.”
Upon closing, SKBL will merge with SKBL Merger Sub, with Skyline continuing as the surviving entity. Existing Skyline shares will be converted into shares of the new public company, while preferred shares and equity awards will …
This post was originally published here
