05:26 PM EDT, 03/12/2024 (MT Newswires) -- Minim (MINM) said late Tuesday that it has struck a deal to merge with privately held e2Companies in an all-stock transaction, sending the stock up more than 71% in extended trading.

Stakeholders of e2Companies will own about 97% of the combined company and securityholders of Minim will own the balance, the company said.

The combined company, which will focus on grid modernization, is expected to operate under the name e2Companies and trade on Nasdaq, Minim said. It expects to close the deal in the second quarter.

Price: 8.61, Change: +3.6, Percent Change: +71.86