Western Capital Resources, Inc. acquired Swisher Acquisition, Inc. from Richard Miller and others.
January 11, 2021
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Western Capital Resources, Inc. (OTCPK:WCRS) entered into an agreement to acquire Swisher Acquisition, Inc. from Richard Miller and others on January 8, 2021. Western Capital Resources acquired all shares of Swisher Acquisition to make it a wholly owned subsidiary. Richard Miller and another shareholder received 16,801 and 390,596 shares of Western Capital Resources’ common stock, respectively. Western Capital Resources paid cash as consideration and issued a total of 0.41 million shares in total. The value of the shares and cash received by Richard Miller and the other shareholder was approximately $140,000 and $3.3 million, respectively, based on closing sale price of Western Capital Resources’ common stock on January, 7, 2021. The Board of Directors of Western Capital Resources appointed a special committee to consider the approval of the merger and it approved the same. Lincoln International LLC provided fairness opinion to special committee of Western Capital Resources, Inc.
Western Capital Resources, Inc. (OTCPK:WCRS) completed the acquisition of Swisher Acquisition, Inc. from Richard Miller and others on January 8, 2021.
Western Capital Resources, Inc. is a holding company. The Company's segments are Cellular Retail, Direct to Consumer, Manufacturing and Consumer Finance. The Cellular Retail segment consists of an authorized Cricket Wireless dealer and involves the retail sale of cellular phones and accessories to consumers through its subsidiary PQH Wireless, Inc. and its subsidiaries. The Direct to Consumer segment consists of an online and direct marketing retailer and distributor of live plants, seeds, holiday gifts and garden accessories under the Jackson & Perkins, Park Seed and Wayside Gardens brands, and home improvement and restoration products operating under the Van Dyke's Restorers brand. The Manufacturing segment consists of Swisher Acquisition, Inc., a manufacturer of lawn and garden power equipment and emergency safety shelters. The Consumer Finance segment consists of retail financial services conducted through its subsidiaries, Wyoming Financial Lenders, Inc. and Express Pawn, Inc.