Exro Technologies Inc - EXROF STOCK NEWS

Welcome to our dedicated news page for Exro Technologies (Ticker: EXROF), a resource for investors and traders seeking the latest updates and insights on Exro Technologies.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Exro Technologies's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Exro Technologies's position in the market.

04/05/2024 10:55 AM

News

Exro and SEA Electric Announce Completion of Merger

Rhea-AI Summary

Exro Technologies Inc. and SEA Electric Inc. have successfully completed their merger, with Exro acquiring all outstanding shares of SEA Electric. Former SEA Electric stockholders received Common Shares and Preferred Shares in exchange. The Combined Company will operate under the name Exro Technologies Inc. and continue trading on the TSX under the ticker symbol EXRO. The Transaction also involved the conversion of Subscription Receipts into Common Shares, providing Exro with approximately $27.85 million in net proceeds for business operations. Key executives from SEA Electric have joined Exro's board of directors, while others have resigned. Early warning disclosures highlight significant ownership changes post-Transaction.

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End-of-Day

0.59%

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04/04/2024 02:49 PM

News

Exro Announces Shareholder Approval for Proposed Merger with SEA Electric

Rhea-AI Summary

Exro Technologies Inc. (EXROF) announces the successful shareholder approval for the merger with SEA Electric Inc., involving the issuance of common shares. The merger agreement received 98.7% approval at the special meeting. The transaction is set to finalize soon.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-6.62%

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04/01/2024 06:47 PM

News

Exro Technologies Announces Fourth Quarter and Full Year 2023 Financial Results

Rhea-AI Summary

Exro Technologies Inc. announced revenue of $5,736,140 for the twelve months ending December 31, 2023. They entered into a Merger Agreement with SEA Electric Inc. for $30,020,000. The merger aims to enhance technology offerings, accelerate revenue growth, and contribute to profitability.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-5.58%

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03/13/2024 07:03 PM

News

Exro Announces Filing and Mailing of Management Information Circular in Relation to the Proposed Merger with SEA Electric

Rhea-AI Summary

Exro Technologies Inc. files management information circular for proposed merger with SEA Electric Inc. to strengthen its position in the electric vehicle technology sector and accelerate growth.

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Rhea-AI Sentiment

End-of-Day

-4.81%

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03/12/2024 08:00 AM

News

Exro to Present at the 36th Annual ROTH Conference

Rhea-AI Summary

Exro Technologies Inc. announces participation in the 36th Annual ROTH Conference to showcase its innovative power-control electronics for electric motors and batteries. The event aims to connect the company with institutional investors for potential growth opportunities.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

0.4%

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03/06/2024 05:30 AM

News

Exro Provides Corporate Update with Letter to Shareholders

Rhea-AI Summary

Exro Technologies Inc. releases a CEO letter discussing the merger with SEA Electric Inc., EV adoption factors, market positioning, recent events, and technological advancements.

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Rhea-AI Sentiment

End-of-Day

4.24%

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01/30/2024 07:15 AM

News

Exro Announces Merger with SEA Electric to Create Leading e-Mobility Technology Company

Rhea-AI Summary

Exro Technologies Inc. and SEA Electric Inc. have entered into an agreement providing for the acquisition of SEA by Exro, expected to strengthen Exro's technology offerings and accelerate revenue growth. The combined company aims to deliver more than 1,000 propulsion technology systems to OEMs in 2024, with aggregate revenues forecasted to be more than C$200 million for the year. The business combination will bring Exro's next-generation technology to the full spectrum of e-mobility platforms, targeting a defined path to profitability within 12 months of completing the transaction.

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Rhea-AI Sentiment

End-of-Day

-7.14%

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01/30/2024 07:13 AM

News

Exro and SEA Electric Announces Concurrent C$42 Million Capital Raise Transactions

Rhea-AI Summary

Exro Technologies Inc. and SEA Electric Inc. announced a C$42 million capital raise to fund capital expenditures, working capital, and general business requirements in connection with a merger agreement. The capital raise consists of equity and debt financings, with Exro raising approximately C$30 million through the issuance of subscription receipts and SEA receiving an aggregate of US$9 million of debt financing. The net proceeds are expected to support the combined business of Exro and SEA pursuant to the concurrently announced agreement providing for the acquisition of SEA by Exro. The Transaction is expected to close by the end of Q1 2024, subject to approval of Exro shareholders at a special meeting and other customary closing conditions.

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Rhea-AI Sentiment

End-of-Day

-7.14%

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01/15/2024 07:30 AM

News

Exro Releases Q1 2024 Letter to Shareholders

Rhea-AI Summary

Exro Technologies Inc. releases a Q1 2024 letter to shareholders, highlighting its operational performance in 2023 and outlining key focus areas and milestones for the upcoming year. The company emphasizes transformative collaborations and commercial partnerships, real-world validation with technology partners, and significant progress in projects with global automotive OEMs and other multinational companies. Despite market pressures, Exro remains confident in its technology potential and aims to create long-term shareholder value. The company also provides updates on its financials and plans to host a shareholder livestream.

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12/20/2023 08:01 PM

News

Exro Provides Operational Update in Year-End Shareholder Letter

Rhea-AI Summary

Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) provided an operational update in a 2023 year-end letter to shareholders, addressing Cell Driver™ UL testing progress, Coil Driver™ agreements, interest payments, SEA-Electric track testing, and NDA partner updates.

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Rhea-AI Sentiment

End-of-Day

0.67%

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