The trading week has continued to be an interesting one during interesting times, and there are certain companies like NU E Power Corp (OTC: NUEPF) that may be worth tracking. As it happens, the company was in focus on 28 February after it made an announcement with regards to a binding letter of intent to acquire Blu Dot Systems Inc.
LOI Amendment
At the time, NU E Power announced that it had amended its letter of intent to acquire Blu Dot and changed it to a binding one. The LOI would be binding on the condition that a definitive agreement between the two parties is completed. The terms had also been extended to March 31, 2025. However, that was not all.
Further Information
It was also noted that Todd Michael would join Blu Dot Systems in the capacity of President to oversee the company’s expansion in the United States. In this regard, it should be noted that Blu Dot is a noted OEM manufacturing company in the electric switchgear space, valued at $92.3 billion a year globally and growing at 6.7% a year. It remains to be seen how the market reacts to the development.
