By Owen Tucker-Smith
Blackboxstocks' market value nearly doubled Wednesday after the financial-technology company said it had secured up to $2 million in financing in preparation for a possible merger.
Shares of the Dallas company were recently up 98% to $3.33.
Blackboxstocks said Wednesday that it had entered an agreement with Five Narrow Line for up to $2 million in financing through a series of debentures as the company prepares for a merger transaction. Five Narrow Line is representing unnamed purchasers in the transaction.
Chief Executive Gust Kepler said that the financing will both help the company with its current operations and supply it with funding for future transaction expenses.
The company provides stock and options analytics through a web-based artificial-intelligence software. Users of the product also have access to a built-in social media platform.
Write to Owen Tucker-Smith at owen.tucker-smith@wsj.com
(END) Dow Jones Newswires
January 22, 2025 10:36 ET (15:36 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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