11/23/2023 0 Comments Beam global stock price![]() Since 1990 Amiga has been selling to municipalities, states and commercial customers. Beam Global expects the acquisition to be accretive based on a revenue multiple with expected additional operating synergies. Upon the closing of the transaction, Amiga will be rebranded Beam EU.Īccording to financial statements provided to Beam Global by Amiga, Amiga generated over EUR 8.5M in revenue in 2022 and had gross profit during that period. We plan to integrate Amiga’s team of qualified engineers with Beam Global’s current team which we expect will provide a valuable enhancement and acceleration of product development cycles and reduce the requirement for Beam Global to add engineering headcount in the U.S. Amiga is one of Europe’s leading manufacturers of streetlights and is strategically positioned to bring Beam Global’s patented EV Standard™ to market both in Europe and the U.S. For the three months ended June 30, 2023, we anticipate delivering approximately 195 to 205 ARC™ solar-powered EV charging infrastructure systems as well as continuing to deliver our energy storage solutions to our customers.Īmiga was founded in 1990, has approximately 210 employees and currently has engineering, product development and manufacturing capabilities which Beam Global believes are ideally suited to manufacture and perfect the Company’s current products for the European market. The offering is expected to close on or about June 22, 2023, subject to the satisfaction of customary closing conditions.īeam Global anticipates revenue for the three months ended Jto be in a range of $15.5 million to $17.0 million which would be the highest quarterly revenue achieved in the Company’s history. Beam Global has granted the underwriters a 45-day option to purchase up to an additional 375,000 shares of common stock. ![]() Maxim Group LLC and Freedom Capital Markets are acting as joint book-runners for the offering.īeam Global intends to use the net proceeds from the offering to fund the initial cash portion of the proposed acquisition of Amiga as well as for working capital and other general corporate purposes. The offering was not conditioned on the completion of the potential acquisition of Amiga. Gross proceeds from the offering are expected to be approximately $22.5 million before deducting underwriting discounts, commissions and estimated offering expenses. The transaction is pending completion of Beam Global’s due diligence, which will include customary closing conditions, and is expected to be finalized in Q3 or Q4 2023.Īdditionally, Beam Global today announced the pricing of an upsized underwritten public offering, as previously announced, of 2,500,000 shares of its common stock at a public offering price of $9.00 per share. SAN DIEGO, J(GLOBE NEWSWIRE) - Beam Global, (Nasdaq: BEEM, BEEMW) (“Beam Global” or the “Company”), a leading provider of innovative sustainable products and technologies for electric vehicle (EV) charging, energy storage, energy security and outdoor media, announced previously the execution of a binding Letter of Intent to acquire European based Amiga DOO Kraljevo (“Amiga”), an established manufacturer of specialized structures and equipment, producing street lights, communications and energy infrastructure whose manufacturing, engineering and sales teams serve municipalities, states and commercial customers in 16 nations.
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