Kali Acquires Florida Marine Power Company
Kali, Inc. has completed its acquisition of Florida Marine Power Company, a marine mechanical repair, maintenance and engine installation company.
Kali acquired all of the outstanding stock of Florida Marine Power in exchange for 4 million shares of Kali's common stock.
The transaction also created a performance incentive program for Florida Marine Power to earn additional shares of stock for the next two years if the Company achieves quarter over quarter revenue increases.
"The acquisition of Florida Marine Power will accelerate our revenue generation and provide value to our shareholders. The combination of Wave Marine & Yacht Services and Florida Marine Power will strengthen our value proposition to our customers as we build a portfolio of companies to service the recreational boating lifestyle," stated Charles Yawn, CEO of Kali, Inc.
