Fourth Wave Energy Inc. Signs Agreement with Third Party Investor for $10 Million Equity Line Financing While Also Raising $700,000 in Short Term Bridge Capital
Fourth Wave Energy (FWAV) plans to acquire DeSol Power Tiles, a solar roof system provider. This acquisition aims to enhance its portfolio of climate change solutions by integrating DeSol's patented solar roofing systems. The transaction is projected to close in Q1 2021. The company has secured $400,000 in equity financing from Tysadco Partners and raised an additional $300,000 through fixed-price convertible notes to support this acquisition. The DeSol solar tiles promise a 30-year performance guarantee, combining aesthetics with functionality.
- Acquisition of DeSol Power Tiles enhances Fourth Wave's product offerings in renewable energy.
- DeSol solar roof tiles offer a patented solution, integrating aesthetics with functionality.
- Acquisition projected to close in Q1 2021, potentially boosting market presence.
- Secured $400,000 equity financing and additional $300,000 to support acquisition.
- Equity line subject to SEC approval, introducing potential delays.
- Risks associated with forward-looking statements, including financing and market acceptance uncertainties.
SAN JOSE, Calif., Feb. 3, 2021 /PRNewswire/ -- FOURTH WAVE ENERGY INC. (OTCQB: FWAV) Fourth Wave Energy is a Silicon Valley based climate change solution company that plans to acquire, develop and partner with companies that have innovative products and solutions to the carbon problem. The Fourth Wave management team is focused on developing scalable solutions to the decarbonization of buildings.
Fourth Wave has entered into a Letter of Intent to acquire DeSol Power Tiles, a solar roof system provider that manufactures a patented solar roofing system of tiles in lieu of traditional solar panels. Additional details can be found in the Company's announcement press release issued in October. Fourth Wave is projecting the transaction will close in the first quarter of this year.
The company plans to manufacture, market and distribute worldwide solar tile roofs designed by DeSol Power Tiles. The DeSol solar roof system integrates design and functionality. The patented system uses roof tiles, not solar panels, as to not affect the aesthetic or architectural appeal of a roof. With a simple, flat design, based on the classic Nordic style, DeSol roof tiles will complement the home with a completely sealed, walkable surface that covers the entire roof. Currently manufactured in the US, DeSol solar roof tiles provide a beautiful solution with a performance guaranteed for 30 years.
The equity line is subject to approval of an S1 filing with the SEC. Tysadco Partners llc will bridge the company with four hundred thousand dollars in equity financing under a bridge loan in conjunction with the equity line. Fourth Wave Energy has raised an additional three hundred thousand dollars via fixed price convertible notes. This additional capital will be used to meet the requirements set forth in our current LOI with DelSol Power Tiles.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Company's securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.
Safe Harbor Statement
This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. In particular, factors that could cause actual results to differ materially from those in forward looking statements include: our inability to obtain additional financing on acceptable terms; risk that our products and services will not gain widespread market acceptance; inability to compete with others who provide comparable products; the failure of our technology; the infringement of our technology with proprietary rights of third parties; and inability to respond to consumer demands; Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements. When used in this press release, the words "believe," "expect," "anticipate," "estimate," "project," "plan," "should," "intend," "may," "will," "would," "potential," and similar expressions may be used to identify forward-looking statements.
Contact:
www.fourthwaveenergy.com
tel 408-213-8874
email info@fourthwaveenergy.com
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FAQ
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