Ucansi Inc. completed the acquisition of Autovative Products, Inc in a reverse merger transaction.
The Boards of Ucansi and Autovative have approved the deal. The deal is subject to customary closing conditions, approval of Ucansi's shareholders, resignation of officers and directors of Autovative Products, completion of split-off transaction, third party approvals, completion of concurrent financing, and Israeli Tax Authority approval. The deal is expected to close during the third quarter of 2013.
The deal was amended on July 2, 2013, in which each share of Ucansi common stock shall be converted into the right to receive 7.674 shares and each share of Series A-6 Preferred Stock shall be converted into the right to receive 7.724 of Autovative Products. Robert L. Grossman of Greenberg Traurig, P.A. acted as legal advisor to Ucansi Inc.
Ucansi Inc. completed the acquisition of Autovative Products, Inc (XOTC:ATVP) in a reverse merger transaction on July 30, 2013. Upon consummation of merger, the surviving entity will continue to trade as GlassesOff Inc. and the trading symbol will also change soon.
Ucansi Inc. completed the acquisition of Autovative Products, Inc (XOTC:ATVP) in a reverse merger transaction on July 30, 2013. Upon consummation of merger, the surviving entity will continue to trade as GlassesOff Inc. and the trading symbol will also change soon.