Aluf Holdings, Inc. Welcomes Dr. Matthew Leftwich CTO and COO to the Board and Announces Strategic Acquisition of Nanomatronix, LLC

Rhea-AI Summary

Aluf Holdings, Inc. (OTC PINK:AHIX) has announced two significant developments: the appointment of Dr. Matthew Leftwich to its Board of Directors and a strategic acquisition of Nanomatronix, (NMX). Dr. Leftwich, who recently joined Aluf as CTO and COO, brings over 25 years of experience in high-tech startups and will continue to lead NMX while taking on his new responsibilities at Aluf.

The company has signed a purchase agreement to acquire NMX, with the deal expected to close by early 2025. This acquisition aims to integrate and expand NMX's technologies and services into critical markets, accelerating technology development and creating value for customers and stakeholders. Upon completion, NMX will become a wholly owned subsidiary of Aluf Holdings, maintaining its status as a US-based, 100% US-owned, and US-sourced small business.

Positive

• Appointment of experienced Dr. Matthew Leftwich as CTO, COO, and Board member
• Strategic acquisition of Nanomatronix, to expand technologies and services
• Potential for accelerated technology development and market expansion
• Retention of NMX's US-based small business status post-acquisition

Negative

• Acquisition not expected to close until early 2025, delaying potential benefits
• Integration challenges may arise from merging two companies' operations

FORT LAUDERDALE, FL / ACCESSWIRE / September 17, 2024 / Aluf Holdings, Inc. (OTC PINK:AHIX) is thrilled to announce that Dr. Matthew Leftwich, recently appointed as the company's Chief Technology Officer (CTO) and Chief Operations Officer (COO), has been unanimously elected to its Board of Directors. With over 25 years of experience leading high-tech startups, Dr. Leftwich has been instrumental in pioneering cutting-edge technologies. He currently serves as CEO and Engineering Director at Nanomatronix, LLC (NMX), and has previously held key roles as COO at Space Photonics, Inc., as well as Director of the Materials Science and Engineering Graduate Program at the University of Arkansas. Dr. Leftwich will continue to lead NMX while taking on his new responsibilities at Aluf.

Commenting on his new role, Dr. Leftwich said, "Aluf is fostering an exceptional culture, and the timing is perfect to integrate and expand NMX's technologies and services into critical markets. Our partnership and upcoming merger with Aluf will accelerate technology development and enable rapid transition into relevant industries, creating sustainable value for our customers and stakeholders."

Dr. Leftwich holds a Ph.D. in Microelectronics-Photonics, an MBA, an MS in Engineering Sciences, and a BS in Chemical Engineering.

Pending Acquisition of Nanomatronix, LLC:
Aluf Holdings has signed a purchase agreement to acquire NMX, with the deal expected to close by early 2025. Dr. Leftwich will play a key role in merging and expanding the research and development (R&D) and technology transfer strategies of both companies. The primary R&D operations will be based in Fayetteville, AR. Upon completion of the acquisition, NMX will become a wholly owned subsidiary of Aluf Holdings, Inc., maintaining its status as a US-based, 100% US-owned, and US-sourced small business.

About Aluf Holdings, Inc.:
Aluf Holdings, Inc. is a publicly traded company dedicated to acquiring, developing, and managing a diverse portfolio of high-growth potential companies and technologies. With a strong focus on the biotech and biometrics industries, Aluf aims to revolutionize these sectors through innovative solutions and strategic acquisitions.

About Nanomatronix, LLC:
Nanomatronix, LLC (NMX) is a US-based small business specializing in 100% US-sourced technology development. The company leverages non-dilutive federal funding and contracts to bring novel technologies to market, particularly in the defense and consumer industries. NMX is structured around three Strategic Business Units (SBUs) - Biotechnology, Microelectronics, and Nanotechnology - which focus on developing interdisciplinary products and system-level solutions.

Contact Information:
Teresa McWilliams, CFO
Aluf Holdings, Inc.
866-793-1110

Dr. Matt Leftwich, Ph.D.
CTO/COO - Aluf Holdings, Inc.
mleftwich@aluf.com
CEO/Engineering Director - Nanomatronix, LLC
mleftwich@nanomatronix.com

Safe Harbor Statement:
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions that may not prove accurate and are subject to significant risks and uncertainties. Factors that could cause actual results to differ include, but are not limited to, the company's ability to secure financing, retain key personnel, ensure timely delivery of inventory, and develop and market new products. The company disclaims any intention or obligation to update forward-looking statements as a result of developments occurring after the date of this release.

SOURCE: Aluf Holdings, Inc.

View the original press release on accesswire.com

FAQ

What is the latest acquisition announced by Aluf Holdings (AHIX)?

Aluf Holdings (AHIX) has signed a purchase agreement to acquire Nanomatronix, (NMX), with the deal expected to close by early 2025.

Who is Dr. Matthew Leftwich and what role will he play in Aluf Holdings (AHIX)?

Dr. Matthew Leftwich has been appointed as CTO, COO, and Board member of Aluf Holdings (AHIX). He will continue to lead NMX while taking on these new responsibilities and play a key role in merging and expanding the R&D and technology transfer strategies of both companies.

When is the acquisition of Nanomatronix by Aluf Holdings (AHIX) expected to close?

The acquisition of Nanomatronix by Aluf Holdings (AHIX) is expected to close by early 2025.

What are the potential benefits of Aluf Holdings' (AHIX) acquisition of Nanomatronix?

The acquisition aims to integrate and expand NMX's technologies and services into critical markets, accelerate technology development, and enable rapid transition into relevant industries, creating sustainable value for customers and stakeholders.