I wrote this article myself, and it expresses my own opinions. Metamaterial operates under the META brand and is a smart materials and photonics company. As this is not investment advice anyways, here are some possible valuations. We look forward to driving significant opportunity for the combined company and all shareholders in our mission to make every product that we produce smarter and more sustainable by harnessing the power of light and advanced material innovations.. Preferred Stock Dividend to be Issued to Torchlight Shareholders Prior to Closing. I am long in TRCH at 36K shares and long in MMATF at 60K shares. TRCH could announce something along the lines of: "with the new interest in our company from investors, we have terminated the merger agreement and will continue to develop our projects.". Torchlight is likely to end soon is because the company is taking advantage of the irrational share price increase and has launched a, Brooklyn ImmunoTherapeutics made a similar move. quotes delayed at least 15 minutes, all others at least 20 minutes. Please disable your ad-blocker and refresh. The META Note is for a 24-month term and bears interest at 8%, with principal and interest due in a lump sum at maturity. For TRCH stock investors, the new focus adds an unfamiliar dimension to what had been an oil and gas exploration and production company based out of Plano, Texas, with a total of four full-time employees. META has a growing patent portfolio with three core technologies; holographic, lithographic, and wireless sensing, designed for high volume applications. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. However, what the MF article doesn't seem to realize, is that the conversion of debt to equity is part of the merger agreement. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/mmat-stock-meta-materials-hits-nasdaq-as-trch-stock-merger-closes/. Many of META's functional materials and metamaterials are designed to increase the efficient use of light and other energy forms. All rights reserved. This transaction will enhance our ability to pursue a broad range of opportunities and attract additional world-class talent. The company isnt popular on WallStreetBets, but you can find viral posts on the RobinHoodPennyStocks, pennystocks, and smallstreetbets subreddits touting it as a potential short squeeze. I am not receiving compensation for it (other than from Seeking Alpha). The companys main focus has historically been on the acquisition and development of highly profitable domestic oil fields, with interests in Texas, including the Permian Basin and the Eagle Ford Shale. , this is what I like to see in a startup a rapidly growing market and great products and partnerships. Recall that the company plans to merge with Metamaterial(OTCMKTS:MMATF), which makes advanced materials. I have been investing in stocks since 2007.I have no preference for sectors or countries - I'm as comfortable owning a part of a cement miner in Peru as holding shares in a wheat farming firm in Bulgaria. Through this reverse merger Torchlight receives a 25% stake in META. The company detailed its paying of a special dividend to its shareholders, as well as a reverse stock split. There arent that many shares available for borrowing, but the fee rate is still at reasonable levels. I wrote this article myself, and it expresses my own opinions. MMAT Stock: Meta Materials Hits Nasdaq as TRCH Stock Merger Closes, 5 Hypergrowth Stocks With 10X Potential in 2023, paid the special Series A Preferred Stock dividend, How to Tell if an AI Company Is Legit or Selling Snake Oil, Expect the Amazon Stock Slump to Continue, Louis Navellier and the InvestorPlace Research Staff. Torchlights management will remain, in an advisory role focused on winding down Torchlights legacy business and maximizing the value obtained from the divestiture of Torchlights oil and gas assets. Holders of Exchangeable Shares will be entitled to cast votes on matters for which holders of Torchlight common stock are entitled to vote and will be entitled to receive dividends that are economically equivalent to the dividends declared by Torchlight with respect to its common stock. 2023 InvestorPlace Media, LLC. Here is a DD write up and estimate by user u/Mr_Delmont. You see, Metamaterial wants to list on a large US stock exchange, and to do this, its carrying out a reverse takeover with a small NASDAQ-listed US energy company named, Torchlight. For reference WTI is currently at $61.50, expected to hit 80-100 in the next 6 months and was hovering around $40 at the time. Many emerging technologies have historically been adopted by the automotive industry to improve performance, safety and comfort. META partnered with Airbus to develop and commercialize this technology. Certain stockholders of each of Torchlight and Metamaterial have executed customary voting and support agreement pursuant to which persons representing approximately 16% of Torchlights and approximately 48% of Metamaterials outstanding voting power have agreed to vote in favor of the Transaction, subject to customary applicable terms. (Edited after IR clarification) The special dividend will be as of the record date, which has not been determined. Often but not always, forward-looking information can be identified by the use of words such as "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would" or "will" be taken, occur or be achieved. Two Wall Street Legends will reveal their #1 recommendations and full "roadmap" for navigating the coming AI revolution. Lorem ipsum dolor sit amet, consectetur adipiscing elit. The proxy statement/prospectus will be mailed to Torchlights Shareholders. Winkler Project 1,080 gross acres, 12.5% WI (non-operated) under contract for $450k (350k to Torchlight). Which will lower the costs and mass of self-driving vehicles. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. I have no business relationship with any company whose stock is mentioned in this article. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The Proposed Transaction represents a strategic shift for Torchlight. TRCH will sell its assets or spin them off before the business combination happens; the combined company will get none of TRCH's assets. This February META acquired Interglass Technology AG of Switzerland, their IP and over 70 patents. 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. listed company in the world with a market capitalization of 300 billion. Is this happening to you frequently? Accordingly, readers should not place undue reliance on any forward-looking statements or information. Please. We are very excited to showcase how metamaterials go beyond conventional materials and chemistry, to offer new and highly sustainable solutions with semiconductor precision, at kilometer scale.. Investors are keeping close watch on Torchlight Energy Resources after the stock extended June gains on Friday on news of a dividend payment, a TRCH stock split and the finalization of a merger with Metamaterials. Torchlight urges you to consider those risks and uncertainties in evaluating its forward-looking statements. META has also partnered with Lockheed Martin and the Canadian Government's Sustainable Development Technology Canada (SDTC) fund to develop metaSOLARTM a new solar energy product suitable for the transportation industry. Drilling rights in the Permian Basin of West Texas and New Mexico averaged about $24,000 an acre in recent deals, down 67% from 2018, according to Rystad Energy, an Oslo-based research firm. Do you remember the GameStop (NYSE:GME) short squeeze? The last major purchase in the Permian Basin was in October 2020 when Conoco Phillips acquired Concho Resources in a $9.7 BN all stock transaction, adding 550,000 acres in the Permian basin and 200,000 b/d. Higher field strength systems cost much more. It has gone up significantly since the merger announcement. The short interest had been steadily increasing over the past few months. Looking like March 12 for merger date? Metamaterial closed at only $0.58 on 12/14/20. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/trch-stock-the-big-news-that-has-torchlight-energy-soaring-today/. Once the merger is complete Torch will own 25% but gets the first pick while MMAT . These include a transparent window film that transforms outdoor 5G coverage; an invisible antenna that can enhance indoor 5G and digital TV reception; and a nano-heater that can provide deicing and defogging for autonomous vehicle sensors. Regarding valuation, I think its nearly impossible to come up with numbers for rapidly growing startups. Metamaterial offers proven disruptive technology with strong environmental, social and governance (ESG) priorities. The oil and gas exploration and production company based out of Plano, Texas, has become something of a regular on meme chats and threads, likeReddits r/WallStreetBets and other subreddits, in recent weeks. I view it as likely since there are no shares available for short-selling as of the time of writing, according to data from. They have also created electromagnetic interference protection that can play a large roll in infrastructure defense. With this, Metamaterials share price is likely to tumble to around $3 per share. Upon completion of the Proposed Transaction, shareholders of META are expected to hold a 75% interest in the combined entity. META has a growing patent portfolio with three core. $12M is about the value of a clean empty shell Nasdaq listing. Metamaterials (MMATF) and Tesla (TSLA) Rumors | Why it COULD MAKE SENSE! Aerospace and Defense- META has extensive experience providing laser protection, de-icing and de-fogging products to aviation companies. 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