The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. Starting off, it’s worth noting that investors will have to be on record as. And certainty could definitely be a good thing for TRCH investors right now. Here’s everything investors need to know about the merger and what kind of dividend holders of TRCH stock can expect. With the deal expected to close at the end of the month, investors now have certainty with this deal. 21 2019 said it has signed a nonbinding letter of intent to offload its oil and gas assets within the first half of 2021 and to acquire 100 of materials and systems engineering company Metamaterial Inc. Additionally, the company confirmed that its preferred dividend will be paid out on June 25. Torchlight announced earlier this week the company is extending its merger combination date to June 30. Let’s dive into the reason June 30 may be a big date TRCH investors will want to mark on their calendar. At least, according to what the market believes it’s worth. Without this $1-$20 extraneous valuation bump, TRCH is likely trading where it should be. Thus, most of the recent volatility we’ve seen in TRCH is related to this company trading ex-dividend the past few days. That said, a massive range of between $1 per share and $20 per share has been discussed. Here’s everything investors need to know about the merger and what kind of dividend holders of TRCH stock can expect. The range of what this dividend could be appears to be still up in the air. This dividend will be paid out to shareholders of record, as of June 22. This combination of meme stock hysteria and merger excitement helped drive this stock in recent weeks.Īdditionally, as a result of the merger, Torchlight announced investors will receive a special dividend of its Series A Preferred Stock. were completed on Jand therefore Torchlight expects that the business combination will be effective on Jas of 12:01 AM EDT. Indeed, retail investors have jumped on this stock prior to the announcement, spurring additional interest in Torchlight. Torchlight also announced that the steps necessary to close the business combination with Metamaterial Inc. Shareholders approved the deal on June 11, and Torchlight is set to become a much larger entity in short order as a result. The company’s highly touted merger with Metamaterial (OTCMKTS: MMATF) has driven most of the excitement in this stock. And many of the reasons for this volatility appear to still exist, painting a rather interesting picture for how this stock will perform over the near term. However, this kind of volatility is stomach-churning. Now, investors who have held through this uncertainty are still up.
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