Ideanomics stock shoots up after deal to buy VIA Motors in a $450 million stock deal

9 months ago 84
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Shares of Ideanomics Inc. IDEX, +1.78% changeable up 13.5% successful premarket trading Monday, aft the electrical conveyance adoption facilitator and fiscal services institution announced a woody to bargain electrical commercialized conveyance institution VIA Motors International Inc. successful a banal woody valuing VIA astatine $450 million. Under presumption of the deal, VIA shareholders volition person a full of 162 cardinal Ideanomics shares astatine a terms of $2.34 a share, which is 2.2% supra Friday's closing terms of $2.29. Separately, Ideanomics volition beforehand $50 cardinal of financing to VIA successful the signifier of a convertible note, and VIA shareholders volition beryllium eligible for a imaginable earnout of up to $180 cardinal if definite conveyance transportation measurement thresholds are met done 2026. Ideanomics banal has dropped 20.5% implicit the past 3 months, portion the S&P 500 SPX, +0.88% has gained 7.3%.

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