Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

ARC Wireless To Buy Advanced Forming Tech And Quadrant Metals Tech - Quick Facts

RELATED NEWS
Trade ARCW now with 

ARC Wireless Solutions Inc. (ARCW: Quote) announced the signing of definitive agreements to purchase Advanced Forming Technology Inc., or "AFT" and Quadrant Metals Technologies, LLC or "QMT".

ARC said that it will be renamed as ARC Group Worldwide, Inc. and will be a diversified manufacturing holding company with operations in Colorado, Florida, Pennsylvania, Texas, Minnesota, China and Hungary. ARC noted that it intends to continue to trade on the NASDAQ Capital Market with the ticker symbol "ARCW".

ARC Wireless Solutions stated that will acquire AFT, including its assets and operations in Hungary, for $43 million.

ARC said that will issue 7.86 million shares valued at $4.00 per share, a 36% premium to ARC's closing price as of April 12, 2012, to acquire QMT in a non-cash transaction.

Transaction values equity of QMT at $31.4 million, a significant discount to the low end of a range determined by an independent valuation and advisory services provider.

Pro-forma projected Net Sales for twelve months ending June 30, 2012: $66 million.

Historical EBITDA margins at QMT have been approximately 15-19%, which ARC would expect to achieve or improve on company-wide over time, upon integration and growth of its business.

The transaction, which is expected to be completed in the second quarter of 2012 subject to regulatory and shareholder approval, is also anticipated to involve a 1-for-1.95 reverse stock split.

Register
To receive FREE breaking news email alerts for ARC Group Worldwide Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Germany consumer confidence is set to improve further in August to the strongest level since December 2006 despite escalating geopolitical tensions in Israel and Ukraine, data from market research group GfK showed Friday. The forward-looking consumer sentiment index rose to 9 in August, while it was expected to remain unchanged at 8.9. This was the highest value recorded since December 2006. Amazon.com, Inc. said Thursday that its second quarter loss widened from last year, as operating expenses outpaced revenue growth amid heavy spending on new technology and contents. The company's quarterly loss per share was also wider than what analysts expected, but is quarterly sales came in line with analysts' forecast. The company also forecast an operating loss for the current quarter. After failing to sustain an initial upward move, stocks showed a lack of direction throughout much of the trading day on Thursday. The major averages eventually closed nearly unchanged, turning in a mixed performance for the second straight day.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.