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An update from Hammer Fiber Optics Holdings (HMMR) is now available.
Hammer Fiber Optics Holding Corp. is set to sell its telecom assets, including 1St Point Communications and its subsidiaries, to Viper Networks Inc. in exchange for 2.5 million shares. The deal, expected to close by the end of 2024, hinges on regulatory approvals and standard closing conditions. Additionally, the company announced leadership changes, with Erik Levitt and Kristen Vasicek resigning from their executive roles, and Mark Stogdill assuming the position of Principal Financial Officer and Secretary. These strategic moves are aimed at streamlining operations and enhancing shareholder value, though they come with the usual caveats of forward-looking statements and the inherent uncertainties of business transactions.
See more insights into HMMR stock on TipRanks’ Stock Analysis page.