Bitech signs definitive agreement to acquire 5.8 GW renewable project portfolio via Bridgelink merger

Bimergen Energy Corp

Bitech to issue 222.2M shares (~31.3% stake) for 100% interest in Emergen, owning 1.965 GW BESS and 3.84 GW solar pipeline.
Closing expected by April 24, 2024, subject to due diligence, project mgmt agreement, and employment agreements with Tran and Johnson.
Benjamin Tran remains Chairman/interim CEO; Cole Johnson to join as President leading BESS/Solar division.
Projects in TX, AZ, LA; potential project valuation up to ~$325M NPV; company aims for NASDAQ uplisting.
Bridgelink to own ~31.3% of outstanding common stock post-closing; company retains name and ticker BTTC.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Bimergen Energy Corp entered into Membership Interest Purchase Agreement with Bridgelink Development, LLC, C & C Johnson Holdings LLC, Cole Johnson (effective 2024-04-14).

Action: entry
Agreement: merger
Counterparty: Bridgelink Development, LLC, C & C Johnson Holdings LLC, Cole Johnson
Effective: 2024-04-14

Exact text from the filing

On April 14, 2024, the Company, Emergen Energy LLC, a Delaware limited liability company, Bridgelink, C&C and Cole Johnson entered into a Membership Interest Purchase Agreement (the “MIPA”) as contemplated in the Letter Agreement (the “Business Combination”).

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Bimergen Energy Corp filing history →

Source: SEC EDGAR

accession 0001493152-24-014591

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