Business
Aluf Holdings, Inc. to Acquire Two Additional Next Gen Tech Companies
Aluf Holdings, Inc. to Acquire Two Additional Next Gen Tech Companies.
About this update from Aluf Holdings, Inc.
[{"type":"text","content":"\n\n\n\nAluf Holdings, Inc. to Acquire Two Additional Next Gen Tech Companies\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nAluf Holdings, Inc. to Acquire Two Additional Next Gen Tech Companies\nPR Newswire\nHOLLYWOOD, Fla., Dec. 9, 2019\n\n\n\nHOLLYWOOD, Fla., Dec. 9, 2019 /PRNewswire/ -- Aluf Holdings, Inc. (\"AHIX\") (\"the Company\") (OTC PINK: AHIX) today announced the execution of non-binding Letters of Intent to acquire 100% of the outstanding stock of two privately-held companies for consideration consisting of cash, seller debt, and Aluf Holdings equity.  This puts the Company at a total of four acquisitions, including Aluf's existing CSPA to acquire a company, along with the recent acquisition of COLOTRAQ.\nProposed Transaction Highlights\nThe Terms of the Letters of Intent and CSPA's contemplate a total consideration for these transactions consisting of $3 million in the issuance of Aluf Holdings stock; $19.4 million in cash; $12.1 million in 1, 2, and 3-year unsecured sellers notes.  Closing these transactions is subject to completion of financing and customary closing conditions.  Aluf expects to finance the cash contribution of the transaction through debt financing and through a Reg. D private placement under Section 506(c).\nManagement Commentary\n\"The consummation of these acquisitions will immediately transform Aluf into a much larger company with annual revenues of approximately $39 million and EBITDA of approximately $14.5 million on a pro-forma basis for 2020\", said Dany M. Bouchedid, President and CEO of Aluf Holdings. \"We are thrilled to present our shareholders with an opportunity to enhance the company's current and future valuation as we execute the vision of becoming a leader in Next Gen technology while creating sustainable long-term value for our shareholders.\"\nAbout the Proposed Acquisition Targets\nTarget 1 is a premier biometric technologies company located in California with a 45-year history of consistent profitability in creating and providing biometrics technology sales and services t...