SDCL EDGE Acquisition in an 8-K filed an investor presentation promoting its proposed merger with Cunova, a unit of Italian copper and copper alloy producer KME.
KME, which has a 45% stake in Cunova, signed the business combination agreement with German private equity fund Paragon, which owns the remaining 55% of the company, as well as NYSE-listed SDCL Edge.
The plan is for KME to sell its aerospace business to Cunova and hold around 60% of the combined listed company, while Paragon will fully exit its investment. SDCL EDGE will take the combined company to the New York Stock Exchange.
The pro-forma enterprise value of the combined company is estimated to be around $736 million, including a net debt of $289 million, and an equity value of about $447 million. Read more.
