TLSS extends timeline for Patriot Glass Solutions deal, sets Aug. 4 outside closing date

Transportation and Logistics Systems extended key deadlines for its planned acquisition of an 80% stake in Patriot Glass Solutions.

The outside closing date was moved to Aug. 4, 2026, and audited 2024 and 2025 financial statements are due by July 15, 2026.

The updated requirements also add unaudited financials for the first two quarters of 2026, with full access and deliverables due by July 24, 2026.

Consideration remains $4.75 million, payable in 47,500 shares of Series J Senior Convertible Preferred Stock with a $100 stated value per share.

Michael Wanke will retain 20% of Patriot Glass Solutions, and closing requires an employment agreement for Wanke to be finalized during due diligence.