Charging Robotics Inc. (CHEV): M&A transaction — Fuel Doctor completes acquisition of Charging Robotics, issues 921.75M shares

Charging Robotics Inc.

Acquired 100% of Charging Robotics, a wireless EV charging startup, in exchange for 921,750,000 newly issued shares of FDOC common stock.
Charging Robotics formed Feb 2021, incurred net loss of $810k in 2022 and accumulated losses of $1.62M; no material revenue generated.
Company now focuses on autonomous wireless EV charging; retains 7 employees in Israel; going concern warning in financial statements.
Acquisition triggers change in control; details of director/officer changes not yet disclosed in filing.

item 2.01 item 2.02 item 3.02 item 5.01 item 5.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Charging Robotics Inc. completed an acquisition involving stockholders of Charging Robotics Ltd. (closed 2023-04-07).

Action: acquisition
Counterparty: stockholders of Charging Robotics Ltd.
Closing: 2023-04-07

Exact text from the filing

Pursuant to the Acquisition Agreement, at the closing, which occurred on April 7, 2023, the Company acquired 100% of the issued and outstanding stock of Charging Robotics (the “Acquisition”), making Charging Robotics a wholly-owned subsidiary of the Company, in exchange for the issuance of a total of 921,750,000 newly issued shares of the Company’s common stock.

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Charging Robotics Inc. filing history →

Source: SEC EDGAR

accession 0001017386-23-000164

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