M&A
confidence high
sentiment positive
materiality 0.90
Fourth Wave Energy signs merger agreement to acquire EdgeMode; EdgeMode holders get 80% of FWAV stock
Edgemode, Inc.
- Reverse triangular merger: EdgeMode becomes wholly owned subsidiary; EdgeMode shareholders receive 80% of FWAV fully diluted common stock.
- Company raised over $4.3M since mid-September 2021; at least $2M earmarked for EdgeMode operations post-close.
- EdgeMode operates crypto mining in NY and IL, plans NC and TX expansion; 600MW contracted hosting capacity coming online Q1 2022.
- Post-merger, Joseph Isaacs resigns as CEO/director, stays as consultant; Charlie Faulkner and Simon Wajcenberg assume board and executive roles.
- Closing expected in or before January 2022, subject to due diligence completion and audit of EdgeMode.