Optec International Inc (OTCMKTS:OPTI) was one of the biggest gainers on Tuesday. The stock has been gaining momentum over the past 6-month with a gain of 152%.
Major Trigger:
OPTEC International, Inc. Completes $70M Acquisition of WeShield, An Established AI Driven NY MedTech Company In the Medical Supply & PPE Space.
Key Highlights:
- The company announced the execution of the 100% acquisition of WeShield for $70 million in a combination of cash and preferred shares.
- WeShield, who recently received the following award, is an established New York based AI (Artificial Intelligence) Driven MedTech company in the PPE space with 2020 audited revenues in excess of $55M.
- WeShield is extremely well engrained in the Wholesale Medical sector supplying PPE safety products to: GAP, Caesars Entertainment, Hard Rock, Defense Logistics Agency (DLA), NYC Housing Authority (NYCHA), Concordance, Henry Schein, Medline, and more.
- This AI driven MedTech company is on track for substantial growth and projecting revenues of over $100M for 2021. The company has a very strong, well-structured management team and uses advanced marketing technology to fuel both the company’s operations and continual growth.
- OPTEC management is confident the acquisition will generate additional market strength, profits and shareholder value for OPTEC while simultaneously adding additional strength to OPTEC’s management team.
Market Reaction
On Tuesday, OPTI stock ended higher by 34.67% at $0.1010. Volume was hefty with more than 18.34 million shares traded hands, compared to its average volume of 18.18 million shares. The stock opened at $0.073 and moved with in a range of $0.0690 – 0.1025.
 Completes WeShield Acquisition){kind=link}