PV Nano Cell will maintain DigiFlex as a wholly-owned subsidiary that will oversee development, manufacturing and distribution of the DigiFlex Flexojet printing systems.
“DigiFlex offers PV Nano Cell a number of key printer technologies and inks that will allow us to implement a comprehensive ‘Complete Solution Approach’ for our customers. As a result, we will have the unique ability to support Additive Digital design, prototyping and mass production of electronic devices, such as PCBs, all in one. We believe this approach will be very attractive to customers, especially when coupling it with our cost-efficient and mass production compatible line of Sicrys silver and copper conductive inks,” said Dr. Fernando de la Vega, CEO of PV Nano Cell.
“We are excited to leverage DigiFlex’s digital printing technology platform – printers and polymer-based inks, to expand Sicrys conductive inks based ‘complete solution’, which will provide us with the opportunity for a recurring revenue stream,” added Dan Vilenski, DigiFlex chairman of the board.
Under the terms of the agreement, DigiFlex shareholders will receive one share of PV Nano Cell common stock for each two shares of DigiFlex common stock they hold. At the completion of the transaction, DigiFlex shareholders will own approximately 33.3% of the combined company. The transaction is conditioned on the successful completion of the ongoing due diligence process and the completion of definitive agreements.