DIGITAL UTILITIES VENTURES,INC.: M&A transaction — Digital Utilities Ventures acquires majority stake in Easy Energy Systems and Easy Modular Mfg; issues 3.76B shares

DIGITAL UTILITIES VENTURES,INC.

Acquired majority interest in Easy Energy Systems Technologies, LLC and Easy Modular Manufacturing, Inc. effective March 31, 2024.
Issued 3,763,000,000 common shares and authorized 5,000,000,000 Class C Preferred shares with 10:1 voting preference.
Dakota Max, LLC canceled 2,280,584,037 common shares; Inna Sheveleva canceled 140,016,912 shares as part of deal.
Restructured over $4.1M debt, removing conversion rights and reducing interest rates from 18%/8% to 5% per annum.
Control of company transferred from Dakota Max to new entities through stock issuance and cancellation.

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 Technologies, LLC and Easy Modular Manufacturing, Inc. for shares of common and preferred stock (closed 2024-04-15).

Action: acquisition
Counterparty: Easy Energy Systems Technologies, LLC and Easy Modular Manufacturing, Inc.
Consideration: shares of common and preferred stock
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 0001017386-24-000100

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