MergerJul 10, 2026, 04:33 PM

TLSS Amends Merger Agreement for Patriot Glass Solutions, Delays Closing

AI Summary

Transportation & Logistics Systems, Inc. (TLSS) announced a Second Amendment to its Member Interest and Asset Exchange Agreement with Patriot Glass Solutions (PGS) and related parties, signed on July 7, 2026. This amendment modifies the terms of the previously disclosed reverse triangular merger, primarily extending several key deadlines. The effective time, due diligence period, and financial statement delivery dates have been pushed into July and August 2026, and PGS is now required to provide unaudited financials for the first two quarters of 2026.

Key Highlights

TLSS signed Second Amendment to Member Interest and Asset Exchange Agreement on July 7, 2026.
Amends agreement for reverse triangular merger of TLSS Reverse PGS, LLC into Patriot Glass Solutions (PGS).
Extends Effective Time deadline from 10 to 20 days, pushing dates to July 15 and August 4, 2026.
Due Diligence Period deadline extended to July 15, 2026.
Patriot Glass Solutions (PGS) must now provide financials for Q1 and Q2 2026.
New Section 9.14 added for preparation of a Closing Statement by TLSS Acquisition, Inc.
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TLSS

Transportation Services

Transportation & Logistics Systems, Inc.

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