By: Matt Rego
SPO Global Inc. (OTC Pink: SPOM) engages in the development, designing, and marketing of non-invasive pulse oximetry technologies. The technology helps to measure blood oxygen saturation and heart rate. The Israel-based company is rallying 100% on Monday, August 15, 2016, on heavy volume. Over the past three months, the medical device company has seen average daily volume of around 18.2 million shares. However, nearly 151.03 million shares or dollar volume of around $60,412, have already exchanged hands during the early trading session Monday.
Shares are rallying Monday morning after management released a corporate update that details the fact that SPO Global Inc. (OTC Pink: SPOM) has been approached with interest to be acquired by UK-based company, Cloudload.io. As of right now, the all cash offer is said to have a strike of $0.0005 per share for the medical device company. Here is the press release detailing of the corporate update:
SPO Global Inc. (OTC Pink: SPOM) Press Release:
WOBURN, MA / ACCESSWIRE / August 15, 2016 / SPO Global Inc. (SPOM) wishes to inform all shareholders that it has received an unsolicited expression of interest for the purchase of our company.
SPO Global has received in writing from a UK based company called Cloudload.io stating it is currently looking at acquiring a business with IP in the space of performance testing and monitoring.
Cloudload is backed by a well-established team of directors and is funded by the Venture Capital Fund , Mercier Fund Management. More information can be found at : www.cloudload.io
SPO Global confirms after a number of discussions between the companies that it has written to Cloudload today, and informed them that it is seeking a cash offer in excess of $0,005 per common share. SPO Global authorized common shares is 748 Million.
SPO Global wishes to make clear to all shareholders that this expression of interest is contingent that the company, Cloudload.io, is able to obtain financing and contingent on legal and technical due diligence and board approval.
SPO Global wishes to state that the initial due diligence process has started and is expected to take between 30-45 days.
SPO Global wishes to inform shareholders that in light of these recent developments it will be reviewing its current and any future financing arrangements.
SPO Global will continue to update its shareholders on any material updates.
About S.P.O. Global Inc.
S.P.O. (SOFTWARE PERFORMANCE OPTIMIZATION) GLOBAL INC, is an emerging technology company that is focused on selling its unique performance testing optimization and monitoring software IP for all enterprise applications. The focus of SPO is to build the company into a major player in this exciting billion-dollar market.
SPO Global recently purchased the technology company Reflective Solutions Corp. that sells its unique IP software to major enterprises in North America and Europe.
The principle software products of Reflective Solutions is “Stress Tester” a robust Performance Stress testing solution for large enterprise applications and its new product “Sentinel” that is providing enterprise customers an intelligent monitoring solution 24 / 7 software as a service (SaaS).