Blackboxstocks, Inc. Signs Definitive Agreement to Acquire Evtec Aluminium, Supplier of Proprietary Parts for the EV, Hybrid, and Performance Automotive Market, with Projected Revenue of US$52 Million for Fiscal Year Ending June 30, 2024

Blackboxstocks Inc. (NASDAQ: BLBX), (“Blackbox” or the “Company”), a financial technology and social media hybrid platform offering real-time proprietary analytics for stock and options traders, announced today that on December 12, 2023 it executed a definitive agreement to acquire Evtec Aluminium Limited (“Evtec”). The transaction is expected to close in the first quarter of 2024.

Evtec is a supplier of proprietary mission critical parts for the Electric Vehicle (“EV”), Hybrid, Performance and Luxury OEM automotive markets to brands including JLR (formerly Jaguar Land Rover), Aston Martin, Ford, Bentley, and auto suppliers including Dana, American Axle, Cox Powertrain, among others. David Roberts, a 40-year veteran of the global automotive market and a UK Export Ambassador, leads a team of seasoned executives with decades of experience.

• Revenue estimates for Evtec Aluminum have now reached $52 million for fiscal 2024 ending June 30, an increase of over 60% from the prior year.
• Evtec has record order demand in its pipeline with approximately $778 million in existing orders scheduled for delivery beginning in March 2024. The order book has increased by approximately $430 million over the past eight (8) months and is expected to increase by at least an additional $150 million by March 2024.
• Evtec’s strategy includes both organic growth and growth through acquisition. Evtec’s acquisition targets include companies with strong order books for mostly single sourced parts at attractive valuations. Currently, the Company has multiple targets that are off-market, that can provide substantial growth opportunities.

The Acquisition

• Post-closing, Blackbox and Evtec Aluminum common stockholders will own 26.7% and 73.3% of the estimated 12,000,000 common shares outstanding post-merger, respectively.
• Blackbox plans to acquire the remaining 87% of Evtec Automotive in Q1 of 2024. Evtec Automotive’s inclusion in the merger would result in Blackbox shareholders retaining 9.5% of the combined companies.
• Blackbox common stockholders of record immediately prior to closing of the transaction will receive a contingent value right (“CVR") for the net proceeds received by the Company for the sale or spin-off of the current Blackbox fintech operations within a 24-month period after the close of the merger. The current Blackbox operations will be moved into a new subsidiary prior to the closing.
• David Roberts will assume the roles of Chairman and CEO of the parent Company post-closing. Gust Kepler will continue to serve as the CEO of the Blackbox fintech operations and Robert Winspear will remain a director and CFO of the parent Company, all post-closing. Evtec will appoint three new independent directors to the Company’s Board.
• The transaction is expected to close in the first quarter of 2024 and is subject to customary closing conditions including but not limited to regulatory, lender and stockholder approval. Blackbox and Evtec plan to file a joint Registration Statement and proxy on Form S-4 as soon as practical.

Gust Kepler, Chief Executive Officer of Blackbox, commented, “This is a great transaction that delivers outstanding value for Blackbox stockholders. Not only will our stockholders retain the current value of the Blackbox operations via a contingent value right (CVR), but they will also receive a significant interest in Evtec’s operations going forward. As a subsidiary of the parent company, Blackbox’s fintech operations will continue to create and provide innovative tools and analytics for traders. We look forward to completing the transaction in Q1 2024 and delivering maximum value to our shareholders.”