SilverSun Technologies, the parent company of VAR SWK Technologies, filed an 8-K on September 8, 2023, which outlines a potential exit strategy for their year-long reverse merger with Rhodium Enterprises.
On September 6, 2023, SilverSun Technologies, Inc. and Rhodium Enterprises, Inc. amended their merger agreement. The amendment removed the no-shop clause, which prevented either party from negotiating with other potential buyers. It also allowed either party to enter into an alternative transaction without the consent of the other party, as long as they paid the other party $3,250,000.
I’m not a lawyer, but it sounds like the deal is facing an uphill battle (and has been since the five previous modifications). It’s almost time to call it quits.
