Clearmind to acquire 51% stake in EV wireless charging co. for $2.5M

Key Highlights

• Clearmind signed a non-binding LOI to acquire a 51% stake in an intelligent EV wireless charging solutions company.
• The acquired company develops wireless charging for automated parking systems and autonomous mobile platforms.
• The acquisition purchase price for the majority stake is $2.5 million.
• Clearmind will extend a $1.5 million loan to the acquired company.
• The loan bears interest at 4% per annum and is repayable on the two-year anniversary of closing.
• The acquisition is subject to definitive agreements, due diligence, and closing conditions.