Hawkeye Systems, Inc. (OTCQB:HWKE) (“Hawkeye”), a technology holding company, is pleased to announce today it has signed a Letter of Intent (LOI) to acquire Six15 Technologies (“Six15”), a technology company that designs, develops, and manufactures head-up displays (HUDs) for enterprise and defense users.
Hawkeye is currently expediting the completion of due diligence to finalize a definitive Agreement (“Agreement”) to complete an all-stock purchase of 100% of the shares of Six15. The Agreement will effectuate a reverse reorganization of the two companies in conjunction with an proposed growth capital financing.
Corby Marshall, CEO of Hawkeye, stated, “We are pleased to reach the successful culmination of our M&A process with the announcement of a truly robust growth acquisition opportunity in Six15.
Combining world-class technology with accomplished industry leadership, the Six15 Agreement is expected to return the Company to its original tech mission and its focus on building sustainable long- term shareholder value.”
Rich Ryan, CEO of Six15, commented, “We view the anticipated Agreement and subsequent capital raise as the final element needed to catalyze the hyper-growth phase of our business plan. We further believe our evolving narrative will be well-suited to attract and build long-term investor interest as a public company.”
Hawkeye anticipates there will be a name and symbol change as part of the transaction. A reverse stock split is also being discussed.