Firma Holdings Corp [OTC: FRMA] stock soared 79.75% at the close on Monday with a recent price of $0.0719. Firma stock price ranged between $0.0033 and $0.1950 over the last 52 weeks. In the aftermath of an acquisition deal signed by one of its subsidiaries, FRMA stock remained active on the day with 23.15M in volume.
What acquisition did FRMA make?
Firma Holdings specializes in emerging and middle-market domestic and international investments. As a qualified company in the consumer and industrial products industries, including qualified CBD products, FRMA evaluates the possibility of acquiring other interests, joint ventures, and licensing agreements. FRMA has been active in the mining, packaging, and food manufacturing industries.
Firma Holdings yesterday announced the signing of an acquisition agreement by its wholly-owned subsidiary Firm Advanced Carbon Materials Inc.
- The agreement involves acquiring 51% of the existing shares of NorthStar Sustainable Energy LLC.
- A Kentucky-based company, NorthStar Sustainable operates the state-of-the-art Huff Plant, which is a Carbon Enhancement facility that can clean up to 450 tons per hour of coarse coal.
- This transaction is subject to a standard 60-day due diligence period.
What motivated FRMA for the acquisition?
The acquisition of this company is intended to provide investors with an opportunity to invest in a company that is already positioned for success on its own. At the appropriate time, Firma (FRMA) will distribute the shares of the acquired company to its shareholders. FRMA will use its resources to continue assisting the acquired company to grow and develop.