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Torchlight energy merger date5/4/2023 ![]() Torchlight shares climbed 23 cents mid-morning Friday, or 4.8%, to $4.98. ![]() And certainty could definitely be a good thing for TRCH investors right now. With the deal expected to close at the end of the month, investors now have certainty with this deal. Additionally, the company confirmed that its preferred dividend will be paid out on June 25. Torchlight announced earlier this week the company is extending its merger combination date to June 30. At least, according to what the market believes it’s worth. TRCH is likely trading where it should be. Without this $1-$20 extraneous valuation bump, Thus, most of the recent volatility investors have seen in TRCH is related to this company trading ex-dividend the past few days. That said, a massive range of between $1 per share and $20 per share has been discussed. The range of what this dividend could be appears to be still up in the air. ![]() This dividend will be paid out to shareholders of record, as of June 22. Shares of Torchlight Energy Resources soared 58 on Monday after the oil and gas driller extended the closing date of its merger with advanced materials manufacturer Metamaterial. This combination of meme stock hysteria and merger excitement helped drive this stock in recent weeks.Īdditionally, as a result of the merger, Torchlight announced investors will receive a special dividend of its Series A Preferred Stock. Indeed, retail investors have jumped on this stock prior to the announcement, spurring additional interest in Torchlight. Shareholders approved the deal on June 11, and Torchlight is set to become a much larger entity in short order as a result. The company’s highly touted merger with Metamaterial has driven most of the excitement in this stock. And many of the reasons for this volatility appear to still exist, painting a rather interesting picture for how this stock will perform over the near term. Torchlight Energy Is Now Meta Materials, but Its Outlook Isn’t Any Better The merger with Meta Materials hasn't revived the old TRCH stock By Ian Bezek, InvestorPlace Contributor Jul 28. However, this kind of volatility is stomach-churning. Now, investors who have held through this uncertainty are still up. (NasdaqCM:TRCH) from Tom Welch and others for approximately 140 million in a reverse merger transaction on September 15, 2020. Shares went from around $3.50 to nearly $11, falling back down to the $5 level of late. (CNSX:MMAT) signed a non-binding letter of intent to acquire Torchlight Energy Resources, Inc. Since mid-June, shares of TRCH stock have been on an absolute rollercoaster ride. June 28 was a significant day for anyone invested in Torchlight Energy Resources (NASDAQ:TRCH). Torchlight Energy (NASDAQ:TRCH) has taken its investors on a wild ride over the last little while, but Friday, the ride pointed skyward. What happens to my TRCH stock after merger.
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