In an update to shareholders, Naked Brand Group (NASDAQ: NAKD) CEO Justin Davis-Rice said Tuesday that the company has found a “disruptive opportunity” in the clean technology sector.
The company is currently working on plans to find a merger or acquisition partner following the divestiture of the bricks-and-mortar operations of Bendon.
The deal resulted in an expanded balance sheet for NAKD with a net cash position of $270 million.
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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
“I am happy to report that after extensive searching and due diligence, we believe we have found a disruptive opportunity in the clean technology sector. Due diligence on both sides is progressing and we believe the business combination will reward our patient shareholders,” said Davis-Rice.
Davis-Rice also said the company it has found is a leader with cutting-edge patented proprietary technology that will satisfy its growing ESG (Environmental, Social and Governance) mandates.
“We have made significant progress over the past few weeks and believe the path to a definitive agreement is in sight. However, there can be no assurance that we will sign a definitive agreement, or if we do sign an agreement, that we will be able to close the business combination,” added NAKD’s CEO.
Naked Brand Group’s shares are up 2.64% premarket at $0.855, adding to its 333.85% year-to-date gains.
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