Evo Acquisition Corp - EVOJ STOCK NEWS

Evo Acquisition Corp. (Nasdaq: EVOJ) announced the termination of a business combination agreement with 20Cube Logistics Solutions Pte. Ltd. and other involved parties, effective April 25, 2023. This agreement, originally signed on October 18, 2022, was mutually terminated, making all ancillary documents void. The termination reflects strategic adjustments within Evo, potentially impacting its future growth and investment strategies. Shareholders are advised to monitor updates related to this decision as it may influence the company’s operational roadmap.

Evo Acquisition Corp. (Nasdaq: EVOJ) announced on April 3, 2023, that it received a notice from Nasdaq regarding its Market Value of Listed Securities (MVLS), which fell below the required $35 million for continued listing. The Company has until October 2, 2023, to regain compliance by achieving an MVLS of $35 million or more for ten consecutive business days.

Additionally, on April 5, 2023, Nasdaq notified the Company that it did not meet the Public Float Standard, requiring at least 500,000 publicly held shares. Evo Acquisition Corp. must submit a compliance plan by May 22, 2023, to address these concerns. Failure to comply may lead to delisting, although the Company can appeal such decisions. Current trading on Nasdaq remains unaffected, with a potential business combination with 20Cube Logistics still in evaluation.

20Cube Logistics Pte. Ltd., based in Singapore, is set to attend the 35th Annual ROTH Conference from March 12-14, 2023 in Laguna Niguel, California. This participation follows a October 18, 2022 agreement with Evo Acquisition Corp. (EVOJ) for a business combination. Post-combination, the new parent company will be known as 20Cube Logistics Solutions Ltd., with shares listed on Nasdaq as TCUB. Key executives, Mahesh Niruttan and Jason Sausto, will engage in discussions regarding the merger and future milestones during the conference.

20Cube Logistics Pte. Ltd., a software-enabled international supply chain orchestrator based in Singapore, is set to present at the MicroCap Rodeo 3rd Annual Winter Wonderland Best Ideas Virtual Investor Conference from February 21-24, 2023. Key executives, Mahesh Niruttan and Jason Sausto, will engage in one-on-one meetings and deliver a presentation discussing the company's pending business combination with Evo Acquisition Corp. (NASDAQ: EVOJ). The presentation will be available live and via replay. This merger aims to enhance 20Cube’s capabilities in the supply chain market.

20Cube Logistics Pte. Ltd. has expanded its Distribution Center in Port Klang, Malaysia, to 250,000 square feet, enhancing its supply chain efficiency for Australian clients. This hub facilitates offshore warehousing, allowing for duty-free goods storage and improved logistics operations. The center supports B2B and B2C fulfillment and is designed to reduce supply chain costs by over 20% through its innovative pick-and-pack solutions. The expansion aims to strengthen customer base and market reach in the Asia Pacific region, reinforcing 20Cube's position as a key logistics provider.

20Cube Logistics Pte. Ltd., a Singapore-based software-enabled supply chain orchestrator, will present at the LD Micro Main Event XV Conference in Los Angeles from October 25-27, 2022. CEO Mahesh Niruttan will discuss a business combination agreement with Evo Acquisition Corp. (EVOJ), aiming to go public in Q1 2023. The transaction includes a merger, enhancing visibility and operational efficiency for 20Cube. Interested investors can register for a webcast and one-on-one meetings through the company’s investor relations page.

Evo Acquisition Corp. (EVOJ) announced a definitive agreement to merge with 20Cube Logistics, a Singapore-based supply chain orchestrator. The transaction values the combined company, 20Cube Logistics Solutions Ltd., at an enterprise value of approximately $338 million, with net cash proceeds projected to reach $135 million post-closing. 20Cube has exhibited rapid growth, achieving 74% revenue growth in FY2022 with gross revenue of $163 million. The deal aims to enhance operational capabilities and market presence, with the new firm listed on Nasdaq under the symbol “TCUB”.

Evo Acquisition Corp. (NASDAQ: EVOJU) announced that starting April 1, 2021, unit holders from its initial public offering can separately trade shares of Class A common stock and warrants. The shares will trade under the symbols ‘EVOJ’ for common stock and ‘EVOJW’ for warrants. Units not separated will continue to trade under ‘EVOJU’. Holders must contact Continental Stock Transfer & Trust Company to separate these units. The Company is a blank check firm focusing on completing mergers or acquisitions, particularly in technology and finance sectors.