Beam Global issues unregistered shares under ScoutDI acquisition deal, relying on Regulation S exemption
BEEM•Beam Global disclosed an unregistered common-stock issuance tied to its planned $24 million acquisition of Norway-based ScoutDI. The deal calls for 10% of the base purchase price in stock, with the balance in cash; sellers may elect more stock subject to a Nasdaq share-issuance cap.
1. Share issuance terms
Beam Global disclosed that it will issue unregistered shares to non-U.S. persons in offshore transactions under Regulation S as part of its planned acquisition of ScoutDI. The base terms call for 10% of the purchase price in stock priced at a five-day VWAP and the balance in cash; sellers can elect more stock, subject to a Nasdaq Listing Rule 5635 share-issuance cap.
