This morning, most investors are going to be looking into those companies that may have come into focus on Tuesday, and one of the companies that did was Tiderock Companies Inc. (OTC:TDRK). The company was in the news yesterday after it announced that it had executed a binding letter of agreement with the firm MTAG Composites.
Additionally, the two companies also agreed mutually to extend the date of completing the proposed merger to April 30, 2024. The company revealed that during the course of the due diligence process, it had been decided that it would be necessary for Tiderock Companies to not only acquire the operating business but also the attendant real estate.
The decision had been made by the company on the basis of the current growth opportunities at MTAG Composites and also the nature of its services. In this regard, it should be noted that MTAG Composites’ operations are situated across an area of 4.5 acres that houses five buildings, which add up to as much as 61,000 square feet of manufacturing space. The company believes that due to the strength of the current sales pipeline, it would be important to have more buildings at the property in order to take care of the growth prospects over the short term.
Both companies agreed to work closely before closing the transaction on April 30; however, provisions had also been made for an extension of 30 days so as to facilitate the transfer of the real estate assets. In this regard, investors could do well to have a better idea of Tiderock Companies as a company. It is a diversified advisory services and investment company with a special focus on infrastructure, land development, real estate, and private equity. The company has been involved in these spaces for more than two decades.
