secwatch.observer — SEC 8-K summary
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Issuer:     SYNTEC OPTICS HOLDINGS, INC. (OPTX)
CIK:        0001866816
Form:       8-K
Filed at:   2023-05-10T23:59:59+00:00
Accession:  0001493152-23-016220
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OmniLit Acquisition Corp. signs merger agreement with Syntec Optics
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- On May 9, 2023, OmniLit entered into a Business Combination Agreement with Syntec Optics and Merger Sub.
- Syntec Optics stockholders will receive ~31.6M OmniLit Class A shares; plus 26M contingent earnout shares at $12.50/$14/$15.50 price thresholds.
- Additional performance earnout of up to 2M shares for management based on 2024/2025 revenue and adjusted EBITDA targets ($75M/$22.6M and $196M/$50.6M).
- Syntec Optics is an affiliate of sponsor; CEO/Chair Al Kapoor also chairman and majority stockholder of Syntec Optics (related-party transaction).
- Board and Special Committee unanimously approved; Benchmark Company provided fairness opinion; closing requires stockholder approval and Nasdaq listing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1866816/000149315223016220/0001493152-23-016220-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1866816/000149315223016220/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-016220

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