Stratim Cloud Acquisition signs binding LOI to acquire Force Pressure Control

SPAC Stratim Cloud Acquisition Corp. signed a binding letter of intent to acquire 100% of Force Pressure Control, LLC, a maker of pressure control rental tools for oil, gas and geothermal well operations, for 12 million shares plus $120 million in cash or notes. The announcement was made on February 14, 2023.

“SCAC would acquire 100% of the equity interests of Force from its existing equity holders in exchange for 12 million shares of SCAC Class A Common Stock, $120 million in cash or notes.”globenewswire.com

• 1 source
• globenewswire.comStratim Cloud Acquisition Corp. Identifies Target,Feb 14, 2023

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