Hawkeye Systems Inc. (OTCMKTS:HWKE) Stock Soars After Announcing a Key Acquisition

Hawkeye Systems Inc. (OTCMKTS:HWKE) was up 85% after the company announced the signing of an LOI to purchase Six15 Technologies. Six15 is a tech company that develops, designs, and produces head-up displays for defense and enterprise users.

Market Action:

On Thursday, HWKE stock increased 85.48% at $0.1150 with more than 677.12K shares, compared to its average volume of 14.70K shares. The stock has moved within a range of $0.0610 – 0.1250 after opening the trade at $0.0690.

Announces Letter of Intent to Acquire Six15 Technologies

Currently, Hawkeye is accelerating the due diligence process to complete a definitive agreement to acquire 100% interest of Six15. This agreement will result in a reverse reorganization of the firms in connection to proposed capital financing growth.

CEO of Hawkeye Corby Marshall stated that they are delighted to reach the end of the M&A process and the announcement of a solid growth acquisition prospect in Six15. The combination of two industry leaders will return Hawkeye to its initial tech objective and focus on creating sustainable long-term stockholder value.

Commenting on the agreement, Six15 CEO Rich Ryan said that they anticipated the agreement and the capital raise that will follow as the last element required to trigger hyper-growth in the company’s business plan. So, in the coming weeks, investors should watch HWKE.

Key Quote:

Rich Ryan, CEO of Six15, commented, “We view the anticipated Agreement and subsequent capital raise as the final element needed to catalyze the hyper-growth phase of our business plan. We further believe our evolving narrative will be well-suited to attract and build long-term investor interest as a public company.”