Stock Markets
Goldenstone to merge with Infintium in clean energy push
AURORA, IL and GREER, SC – Goldenstone Acquisition Limited (NASDAQ: GDST), a special purpose acquisition company, has announced a definitive agreement to merge with Infintium Fuel Cell Systems, Inc., a provider of hydrogen fuel cell technologies. The combined entity will operate under the name Infintium Fuel Cell Systems Holdings, Inc. and is expected to be listed on the Nasdaq Stock Market.
The transaction, which values Infintium at a pre-money enterprise value of $130 million, is anticipated to provide Infintium with approximately $18 million in gross cash proceeds before expenses and potential redemptions by Goldenstone’s existing public stockholders. Infintium’s current shareholders will roll 100% of their equity into the combined company.
Infintium, with over 15 years of investment in research and development, offers hydrogen fuel cell systems for material handling vehicles, such as forklifts, used in large distribution warehouses and manufacturing facilities. These systems are seen as a carbon-free alternative to conventional lead-acid and lithium batteries, and have been validated through 1.8 million operating hours.
The company’s customers include major industrial and automotive firms like Mercedes-Benz (OTC:), Ford (NYSE:), and BMW (ETR:), as well as leading retail and e-commerce companies. Infintium’s technology is poised to capitalize on the growing corporate focus on net zero emissions and the shift towards decarbonizing industrial transportation.
Chris Feng, CEO of Infintium, expressed optimism about the merger’s potential to accelerate growth, expand manufacturing, enhance product development, and increase market offerings. The proceeds from the business combination will be utilized to secure new manufacturing facilities and expand sales and marketing operations.
The boards of directors of both Infintium and Goldenstone have approved the merger, which is subject to customary closing conditions, including SEC filings and stockholder approvals. The transaction is expected to close by the first quarter of 2025.
Legal advisement for the deal is being provided by Sichenzia Ross Ference Carmel LLP for Infintium and Loeb & Loeb LLP for Goldenstone. This article is based on a press release statement.
InvestingPro Insights
Goldenstone Acquisition Limited (GDST) is navigating a transformative period with its merger agreement with Infintium Fuel Cell Systems. As the company prepares for its new phase, the latest data from InvestingPro provides a snapshot of its financial health and market performance. Goldenstone’s market capitalization stands at $77.2 million, reflecting the market’s current valuation of the company.
From a trading perspective, GDST’s stock is considered to be in overbought territory according to the Relative Strength Index (RSI), an InvestingPro Tip that suggests the stock price may be higher than its intrinsic value. Moreover, the company’s price-to-earnings (P/E) ratio is at 49.5, and it has been trading at a high earnings multiple, with an adjusted P/E ratio for the last twelve months as of Q4 2024 at 53.49. This indicates that investors are willing to pay a premium for GDST shares relative to the company’s earnings, potentially due to expectations of future growth.
Despite the optimism surrounding the merger, another InvestingPro Tip cautions investors about GDST’s gross profit margins, which are considered weak. This could impact the company’s ability to generate profits in the competitive hydrogen fuel cell market. Moreover, it’s worth noting that the company’s short-term obligations exceed its liquid assets, which could pose challenges in managing its cash flow effectively.
For investors interested in a deeper analysis, there are additional InvestingPro Tips available that could provide further insight into GDST’s financial position and market potential. By using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable insights. With the upcoming merger, keeping a close eye on Goldenstone’s financial metrics and market behavior will be crucial for understanding the company’s trajectory in the rapidly evolving clean energy sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
By Maggie Fick and Ahmed Aboulenein
WASHINGTON (Reuters) – Members of Donald Trump’s presidential transition team are laying the groundwork for the United States to withdraw from the World Health Organization on the first day of his second term, according to a health law expert familiar with the discussions.
“I have it on good authority that he plans to withdraw, probably on Day One or very early in his administration,” said Lawrence Gostin, professor of global health at Georgetown University in Washington and director of the WHO Collaborating Center on National and Global Health (NS:) Law.
The Financial Times was first to report on the plans, citing two experts. The second expert, former White House COVID-19 response coordinator Ashish Jha, was not immediately available for comment.
The Trump transition team did not immediately respond to a Reuters request for comment.
The plan, which aligns with Trump’s longstanding criticism of the U.N. health agency, would mark a dramatic shift in U.S. global health policy and further isolate Washington from international efforts to battle pandemics.
Trump has nominated several critics of the organization to top public health positions, including Robert F. Kennedy Jr., a vaccine skeptic who is up for the post of secretary of Health and Human Services, which oversees all major U.S. health agencies including the CDC and FDA.
Trump initiated the year-long withdrawal process from the WHO in 2020 but six months later his successor, President Joe Biden, reversed the decision.
Trump has argued that the agency failed to hold China accountable for the early spread of COVID-19. He has repeatedly called the WHO a puppet of Beijing and vowed to redirect U.S. contributions to domestic health initiatives.
A WHO spokesperson declined to directly comment but referred Reuters to comments by WHO Director-General Tedros Adhanom Ghebreyesus at a press briefing on Dec. 10 in which he was asked whether he was concerned that the Trump administration would withdraw from the organization.
Tedros said at the time that the WHO needed to give the U.S. time and space for the transition. He also voiced confidence that states could finalize a pandemic agreement by May 2025.
Critics warn that a U.S. withdrawal could undermine global disease surveillance and emergency response systems.
“The U.S. would lose influence and clout in global health and China would fill the vacuum. I can’t imagine a world without a robust WHO. But U.S. withdrawal would severely weaken the agency,” Gostin said.
U.Today – MicroStrategy has made headlines again by purchasing 5,262 BTC for approximately $561 million at an average price of $106,662 per BTC. The company now holds a staggering 444,262 BTC, accumulated at a total cost of approximately $27.7 billion, with an average purchase price of $62,257 per BTC.
Despite impressive returns of 47.4% since the beginning of the quarter and 73.7% since the beginning of the year, skepticism about the company’s strategy is growing.
It is believed that to sustain its purchases, MicroStrategy raises capital through methods such as issuing convertible and corporate bonds, securing credit lines and selling shares.
This cycle appears to operate as follows: shares are sold to acquire the cryptocurrency, and the rising price per BTC increases asset value, enabling further loans, which are then reinvested in more purchases.
Some observers warn that a significant decline in Bitcoin’s price or MicroStrategy’s stock could trigger a cascade effect. A sharp fall in MSTR shares would weaken the collateral backing its loans, potentially leading to forced asset sales, including BTC.
This scenario could exert downward pressure on the broader cryptocurrency market, as the company holds 2.2% of the global Bitcoin supply now.
Thus, while some view Michael Saylor’s approach as a bold bid to cement the cryptocurrency’s role in the financial system, others see it as unsustainable. History offers a cautionary note: in 2000, MSTR shares surged to $333 before plummeting 99%, a collapse that took 24 years to recover from.
National homebuilder ranked No. 12 on inaugural list ranking companies based on trust
SCOTTSDALE, Ariz., Dec. 23, 2024 /PRNewswire/ — With a longstanding reputation for trust, national homebuilder and land developer Taylor Morrison (NYSE:) (NYSE: ™HC) has been recognized by Forbes on their inaugural list of the Most Trusted Companies in America. The homebuilder ranked No. 12 out of 300 companies across all industries.
“There are few things more powerful than trust and it’s something we strive to earn amongst all company stakeholders, from our customers to our team members, our shareholders, and our local communities,” said Taylor Morrison Chairman and CEO Sheryl Palmer. “To be included on this esteemed list in its inaugural year is especially meaningful and these awards are important reminders of the relationships we’re building across all aspects of our business.”
Fueled by hundreds of millions of data points, the Most Trusted Companies in America list combines data on a wide range of factors across four categories: employee trust, customer trust, investor trust and media sentiment. The ranking was created in partnership with research companies HundredX, Signal AI and Glassdoor.
Taylor Morrison also earned the No. 67 spot on Forbes’ inaugural America’s Best Companies list. The ranking is Forbes’ most comprehensive company ranking to date and factored in ratings for financial performance, customer and employee satisfaction, cybersecurity, sustainability, companies’ remote work policies, media coverage and more. Forbes’ America’s Best Companies list assessed more than 60 metrics across 11 primary categories to identify which organizations excel across the board. Of the more than 2,000 U.S.-based publicly traded companies that were eligible, only 300 qualified for each list.
In addition to being named among the Most Trusted and Best Companies in America by Forbes, Taylor Morrison holds several additional accolades including being named on Newsweek’s America’s Most Responsible Companies and America’s Greenest Companies lists, U.S. News & World Report’s Best Companies to Work For list, the American Opportunity (SO:) Index, America’s Most Trusted ® Home Builder for nine years, Hearthstone’s 2021 BUILDER Humanitarian Award, and inclusion on the Fortune 500 list since 2021.
About Taylor Morrison
Headquartered in Scottsdale, Arizona, Taylor Morrison is one of the nation’s leading homebuilders and developers. We serve a wide array of consumers from coast to coast, including first-time, move-up, luxury and resort lifestyle homebuyers and renters under our family of brands”including Taylor Morrison, Esplanade and Yardly. From 2016-2024, Taylor Morrison has been recognized as America’s Most Trusted ® Builder by Lifestory Research. Our long-standing commitment to sustainable operations is highlighted in our annual Sustainability and Belonging Report.
For more information about Taylor Morrison, please visit www.taylormorrison.com.
CONTACT:
media@taylormorrison.com
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