Business
CAVU Resources, Inc. (CAVR) Announces Formal Closing of Merger Agreement with PostBidShip., Inc. Awaits FINRA Notification of Share Distribution Record Date
CAVU Resources, Inc. (CAVR) Announces Formal Closing of Merger Agreement with PostBidShip., Inc. Awaits FINRA Notification of Share Distribution Record Date.
About this update from Cavu Resources Inc.
[{"type":"text","content":"\r\n\r\n \r\n \r\n CAVU Resources, Inc. (CAVR) Announces Formal Closing of Merger Agreement with PostBidShip., Inc. Awaits FINRA Notification of Share Distribution Record Date\r\n \r\n \r\n\r\n\r\nCAVU Resources, Inc. (CAVR) Announces Formal Closing of Merger Agreement with PostBidShip., Inc. Awaits FINRA Notification of Share Distribution Record Date\r\n\r\n\r\n\r\n\r\n\r\nTULSA, OK / ACCESS Newswire / March 11, 2026 / CAVU Resources, Inc. (OTC PINK:CAVR) (\"CAVR\" or the \"Company\") is pleased to announce that, consistent with its strategic roadmap and commitment to shareholders, it has officially signed and closed the Agreement and Plan of Merger between its subsidiary, PBS Recon, Inc., and PostBidShip., Inc. (\"PBS\").\r\n With the execution and closing of this agreement, the merger is legally finalized. The Company is now advancing through the final administrative phase, which involves coordination with the Financial Industry Regulatory Authority (FINRA) to establish and announce the definitive record date for the pro rata distribution of PBS shares to CAVR shareholders.\r\n Transaction Highlights\r\n -Merger Finalized: PBS Recon, Inc. has merged with and into PostBidShip., Inc. with PostBidShip., Inc. serving as the surviving corporation.\r\n -Debt & Asset Optimization: As part of the closing, $1,000,000 in contingent debt has been forgiven. All previously held technology assets have been transferred back to PostBidShip., Inc. for commercialization.\r\n -Shareholder Consideration: In fulfillment of the Company's commitment, CAVR shareholders will receive shares of PostBidShip., Inc. common stock at a ratio of one (1) share of PBS for every 2,050 shares of CAVR common stock held on the forthcoming FINRA-approved record date.\r\n -Capital Structure: To streamline operations, PostBidShip., Inc. has completed a 25.48-to-1 reverse stock split. This reverse split relates exclusively to PBS shares and does not affect the share structure or price of CAVU Resources, Inc. (OTC PINK:CAVR). At the close of the merger, PostBidShip., Inc. has 9,868,755 fully diluted shares outstanding.\r\n Management Team: PostBidShip., Inc., has assembled a world-class management team as follows:\r\n -Fletcher McCusker, Chairman, an investor in PostBidShip., Inc., Mr. McCusker built Providence Service Corporation from $50K to a $1B+ publicly trade...