Mergers & Acquisitions ·
Transportation and Logistics Systems, Inc. entered into a Second Amendment to its Member Interest and Asset Exchange…
TLSSTransportation & Logistics Systems, Inc.
Transportation and Logistics Systems, Inc. entered into a Second Amendment to its Member Interest and Asset Exchange Agreement on July 7, 2026, regarding the acquisition of Patriot Glass Solutions, LLC (PGS). The transaction involves a reverse triangular merger where the company's subsidiary will acquire an 80% membership interest in PGS and four nanotechnology patents from Badcer Ops, Inc. The merger consideration is $4,750,000, payable in 47,500 shares of TLSS Series J Senior Convertible Preferred Stock with a $100 stated value per share. The amendment extends key deadlines, including a July 15, 2026, deadline for PGS financial statements and an August 4, 2026, outside closing date. Transportation and Logistics Systems, Inc. is a holding company focused on the safety and security technology industry.