Mergers & AcquisitionsBy The Online Investor Staff, updated Fri., Sep. 18, 9:31 AM
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Slide #100. Mohawk Group Holdings, Inc. — Truweo
Mohawk Group Holdings, Inc. (NASDAQ:MWK)
Mohawk Group Holdings, Inc. announced the closing of its previously announced acquisition of assets of Truweo, a leading ecommerce brand in the health and personal wellness category. At the closing of the acquisition, Mohawk utilized $13.9 million of the net proceeds to pay the cash consideration payable in the transaction, with the remaining $2.5 million consideration paid in the form of an unsecured promissory note. Mohawk intends to use the remaining net proceeds from the offering to acquire, invest in or license complimentary products, technologies or businesses, and for general corporate purposes, including working capital, operating expenses and capital expenditures.
Mohawk Group Holdings is a consumer products company that uses machine learning, natural language processing, and data analytics to design, develop, market and sell products. Co. has launched and sold various SKUs on Amazon and other e-commerce platforms. Co. has grouped them and has incubated four owned and operated brands: hOmeLabs, Vremi, Xtava and RIF6. These product categories include home and kitchen appliances, kitchenware, environmental appliances (i.e., dehumidifiers and air conditioners), beauty related products and, to a lesser extent, consumer electronics.
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Strong Buy (3.82 out of 4)
(ranked higher than approx. 76% of all stocks covered)
Based on Zacks ABR data;
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