DIGITAL UTILITIES VENTURES,INC.: M&A transaction — Digital Utilities Ventures acquires majority of Easy Energy Systems entities in share-based deal; massive dilution

DIGITAL UTILITIES VENTURES,INC.

Issued 3.763B common shares to acquire majority interest in EEST and EMM; also authorizes 5B Class C Preferred shares with 10:1 voting rights.
Dakota Max LLC cancelled 2.28B common shares (100% of its stake); Inna Sheveleva cancelled 140M shares (50% of her stake).
Debt over $4.1M restructured: conversion rights removed, interest rates reduced from 18%/8% to 5% per annum.
Acquisition effective March 31, 2024; consummated April 15, 2024.

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 (EEST), a wholly owned subsidiary of Easy Energy Systems, Inc., and Easy Modular Manufacturing, Inc. (EMM) for shares of common and preferred stock of the Company (closed 2024-04-15).

Action: acquisition
Counterparty: Easy Energy Systems Technologies, LLC (EEST), a wholly owned subsidiary of Easy Energy Systems, Inc., and Easy Modular Manufacturing, Inc. (EMM)
Consideration: shares of common and preferred stock of the Company
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 0001017386-24-000102

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