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BRIEF-WPCS will acquire Dropcar in an all-stock transaction
September 6, 2017 / 11:49 AM / 3 months ago

BRIEF-WPCS will acquire Dropcar in an all-stock transaction

Sept 6 (Reuters) - WPCS International Inc:

* Says merged co’s stock to trade on NASDAQ capital market under ticker symbol to be announced at later date

* WPCS and Dropcar announce definitive merger agreement

* Says ‍upon closing of transaction, merged company will operate under Dropcar name​

* Says co and Dropcar have entered into a definitive merger agreement whereby WPCS will acquire Dropcar in an all-stock transaction

* Says transaction, which has been approved by board of directors of both companies, is expected to occur in Q4 of 2017​

* Says Dropcar’s co-founder and CEO, Spencer Richardson will assume role of CEO of merged entity​

* Says following deal current stockholders of WPCS are expected to own approximately 15% of outstanding common stock of WPCS Source text for Eikon: Further company coverage:

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