DIGITAL UTILITIES VENTURES,INC.: M&A transaction — Digital Utilities Ventures acquires majority stake in Easy Energy Systems; issues billions of shares, restructures debt

DIGITAL UTILITIES VENTURES,INC.

Acquired majority interest in Easy Energy Systems Technologies (EEST) and Easy Modular Manufacturing (EMM) effective March 31, 2024.
Issued 3.763 billion common shares and 4.77 billion Class C Preferred shares to sellers and for debt cancellation.
Controlling shareholder Dakota Max LLC canceled 2.28 billion shares (100%); another holder canceled 140 million shares (50%).
Restructured debt over $4.1M: removed conversion rights, reduced interest rates from 18%/8% to 5% per annum.

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

DIGITAL UTILITIES VENTURES,INC. completed an acquisition involving Easy Energy Systems, Inc. and Mark and Shauna Souza Gaalswyk Irrevocable Trust (closed 2024-04-15).

Action: acquisition
Counterparty: Easy Energy Systems, Inc. and Mark and Shauna Souza Gaalswyk Irrevocable Trust
Closing: 2024-04-15

Exact text from the filing

On April 15, 2024, Digital Utilities Ventures, Inc., a Delaware Corporation (the “Company”), entered into a Common Stock Purchase Agreement (“Agreement”), made effective March 31, 2024, by which it acquired a majority interest in Easy Energy Systems Technologies, LLC, a Minnesota limited liability company (“EEST”) and wholly owned subsidiary of Easy Energy Systems, Inc., a Minnesota Corporation (“EES”), and Easy Modular Manufacturing, Inc., a Minnesota Corporation (“EMM”), wholly owned by the Mark and Shauna Souza Gaalswyk Irrevocable Trust, a Minnesota Trust (“Trust”), in exchange for shares of common and preferred stock of the Company.

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Source: SEC EDGAR

accession 0001017386-24-000093

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