Mergers & Acquisitions ·
Transportation and Logistics Systems, Inc. entered into a Third Amendment to its acquisition agreement for Patriot…
TLSSTransportation & Logistics Systems, Inc.
Transportation and Logistics Systems, Inc. entered into a Third Amendment to its acquisition agreement for Patriot Glass Solutions, LLC (PGS), extending the outside closing date from August 19, 2026, to September 16, 2026. The amendment also extends due diligence and financial statement delivery deadlines to August 25, 2026. The transaction involves a reverse triangular merger where TLSS acquires an 80% interest in PGS and four nanotechnology patents for $4,750,000, payable via 47,500 shares of Series J Senior Convertible Preferred Stock. Michael Wanke retains the remaining 20% stake and will enter into an employment agreement with PGS prior to closing. Transportation and Logistics Systems, Inc. operates as a holding company in the transportation and logistics systems industry.