Meta Materials (NASDAQ:MMAT) is a company on the radar of many a retail trader. The company’s interesting business model has brought attention to it, especially as broader interest shifts toward scientific ventures in space. Investors have also taken notice of Meta’s short squeeze potential, with institutions continuing to short MMAT stock even with retail interest. Its aggressive M&A strategy, above all else, serves to create stepping stones toward growing its increasingly popular business. And news of its most recent merger is making investors quite optimistic today.
The Canadian-based Meta Materials seeks to push the boundaries of what we can do with light. Its focus is in creating smart materials — ones that can use light and physics in ways which we traditionally don’t think of. It’s a very open-ended business operation since it’s pushing into spaces untouched by others; investors might not know what to expect next.
Meta’s newest merger exemplifies its mission wonderfully, pairing metamaterials and nanotechnologies. Here’s everything you need to know about the news.
MMAT Stock Looks Upward With Newly Approved Nanotech Security Merger
- Meta Materials is continuing its busy year of acquisitions with a deal to acquire Nanotech Security.
- Nanotech Security specializes in nano-optic technology, with an emphasis on stopping crimes like counterfeiting. The company aims to create visual cues for banknotes that can prove their authenticity.
- Of course, with its microscopic products, its offerings are exactly something that Meta would like to add to its portfolio of smart materials.
- Back in August, the two entities announced their intent to combine through a Meta Materials acquisition.
- Yesterday stands as a key date for this timeline, as Nanotech Security shareholders took to a vote to approve the transaction.
- The vote required at least a two-thirds’ majority to pass. The shareholders did approve the details of the acquisition. All in all, more than 98% of voters support the deal.
- Meta Materials will be buying all issued and outstanding shares of Nanotech stock for a set price of $1.25 per share as a part of the merger. Ultimately, the deal is worth over $70 million.
- Closing of the arrangement is set for Oct. 5. But in the timeline of the acquisition, this meeting stands as the largest hurdle toward a deal.
- This morning, MMAT stock looks on track to trade above its daily average volume, with investors incentivized toward the stock with the big news. More than 12 million shares are trading thus far, against an average volume of 20.6 million.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.