(RTTNews) - Ideanomics (IDEX) has agreed to acquire VIA Motors International, Inc. in an all-stock deal. Under the agreement, VIA shareholders will receive approximately 162 million shares of Ideanomics common stock. The transaction values VIA at $450 million. Also, VIA shareholders are eligible for potential earnout consideration of up to $180 million. VIA shareholders are estimated to own approximately 25% of the combined company, excluding the potential earnout payment.
Headquartered in Orem, Utah, VIA Motors designs, manufactures and markets electric commercial vehicles.
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