MW Solar LLC Secures CAD 50 Million Investment Commitment from GEM as Company Seeks to Go Public
US Renewable EV Charging focused Company envisages going public via RTO, merger or traditional IPO.
WILMINGTON, Del.–(BUSINESS WIRE)–MW Solar, LLC (MW Solar) is pleased to announce that it has signed an agreement (“Agreement”) with GEM Global Yield LLC SCS (“GEM”), the Luxembourg based private alternative investment group, to provide MW Solar with a share subscription facility of up to CAD 50 million for a 36-month term following a public listing. The share subscription facility will allow MW Solar to draw down funds by issuing shares of common stock to GEM. MW Solar will control the timing and the maximum size of such drawdowns and has no minimum drawdown obligation.
Randy Wright, Co-Founder stated that “GEM’s commitment provides certainty of capital as we focus toward listing on a national public stock exchange.”
John Maggi, Co-Founder added that “This agreement with GEM greatly positions us for our next stage in development as we grow and expand our entirely green-renewable energy ARC EV ChargingTM network.”
About MW Solar
MW Solar is developing a large-scale multi-location EV Charging network, under its ARC EV ChargingTM brand, with an established fuel distribution partner having over 1,200 service station locations on the East Coast of the United States, as well as travel plazas throughout the region. MW Solar has a unique business model in that it brings an entirely green energy solution to the EV Charging industry.
About GEM
Global Emerging Markets (“GEM”) is a $3.4 billion, alternative investment group with operations in Paris, New York, and the Bahamas. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 500 transactions in 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities and select venture investments. For more information: http://www.gemny.com
Forward-Looking Statements
The information contained in this press release includes “forward-looking statements.” All statements, other than statements of historical fact included in this press release, regarding our strategy, future operations, financial position and outlook and plans and objectives of management are forward-looking statements. Particularly, all statements regarding our expectations of future results, performance, achievements, milestones, prospects or opportunities or the markets in which we operate are forward-looking statements. When used in this press release, forward-looking statements can be identified by the use of forward-looking terminology such as: “envisages”, “looks to”, “moves to”, “could”, “should”, “may”, “expects”, “believes”, “anticipates”, “intends”, “estimates”, “projects”, “outlook”, “potential”, “likely”, “forecast”, “probable”, “plans”, or variations of such words and phrases. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking statements.
These forward-looking statements are subject to a number of significant known and unknown risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those expressed or implied by such statements. Important factors that could cause actual results to differ materially from our expectations include: (i) uncertainties relating to the public listing process and whether we are able to achieve a public listing in the near future, or at all, (ii) our ability to meet our relevant milestones for our product pipeline; (iii) the extent of adoption of our technology and/or products and the realized benefits from such adoption; (iv) the impact of competition, (v) our ability to attract and retain key personnel, including our proposed management team; (vi) our ability to execute on and finance our growth plans; (vii) our ability to perform and progress our research and development and our plans for future product development; (viii) our ability to maintain our strategic partnerships and capitalize on product developments generated through our research and development efforts; (ix) our ability to obtain and maintain existing financing on acceptable terms; currency exchange and interest rates; (xi) changes and trends in the pharmaceutical and healthcare industry or the global economy; (xii) changes in the size of target markets for our product candidates; (xiii) our ability to maintain, expand and protect our intellectual property portfolio; and (xiv) changes in laws, rules, regulations, and global standards relating to our industry.
The forward-looking statements contained in this press release represent our expectations as of the date of this press release (or as the date they are otherwise stated to be made) and are subject to change after such date. However, we undertake no obligation to correct, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
For further information: To learn more about MW Solar please visit https://mwsolarenergy.com
Contacts
Randy Wright and John Maggi
ir@mwsolarenergy.com