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Highlights:
- American Resources Corporation completes merger of subsidiary American Infrastructure Corporation (AIC) with CGrowth Capital.
- The combined entity will be renamed American Infrastructure Holding and aims for an uplisting to a senior national exchange.
- The merger will result in Series A Preferred Stock for AIC common shareholders, with conversion to common shares planned for February.
American Resources Corporation, a company specializing in natural resources, has announced the completion of a merger between its subsidiary, American Infrastructure Corporation (AIC), and CGrowth Capital, Inc. This strategic move is aimed at enhancing the growth trajectory of the combined entity, which will be rebranded as American Infrastructure Holding. The merged entity plans to pursue an uplisting to a senior national exchange, signaling a step forward in the company's broader goals.
The merger, formalized through a binding agreement dated December 30, 2024, positions AIC as a wholly-owned subsidiary of CGrowth Capital. As part of the agreement, common shareholders of AIC will be granted Series A Preferred Stock. These preferred shares can be converted into common shares of the combined entity at the shareholder's discretion, with the distribution of these shares scheduled for mid-February of 2025.
American Resources has previously received valuation documents for AIC’s operations, which were estimated between $150 million and $280 million. The structure of the merger reflects an intent to achieve growth objectives and establish value for the new entity. With this merger, the management team from American Infrastructure will take control of CGrowth Capital, while Nick Link, the former CEO of CGrowth Capital, will continue serving on the board.
This merger is a pivotal move within the infrastructure sector, bringing together resources and expertise that align with the goals of both companies. It is also expected to foster further development in the company’s operations and position the combined entity for long-term success. The transaction has been marked under the ticker (NASDAQ:AREC).