American Energy Announces Reverse Merger w/Hospital Supply Chain Co
This is one of those times where we scratch our heads and say, Huh? Just last week, we brought you the news that American Energy Partners, Inc. (AEPT), based in Allentown, PA, with its fingers in several different pies, including subsidiaries in drilling, remediation, water, and more, is changing its name to American Environmental Partners, Inc. (see American Energy Partners Changes Name, Swaps Enviro. for Energy). This week, another company, a hospital supply chain company by the name of SCWorx, announced it is buying out and merging with American Environmental Partners in an all-stock transaction. But here’s the thing…even though SCWorx is buying AEPT (on paper), when the two companies are merged, SCWorx shareholders will own 17% of the company, and AEPT shareholders will own 83%. Which means this is really the other way around — that AEPT is the one doing the buying.
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