The sharp-eyed noticed that the sensational jump made by Sumoto’s share had already begun about a week before the report on the deal (which has not yet been completed), with a consistent increase in value, which accumulated to about 30% within six days. Thus, the person who bought the company’s share last Monday recorded a phenomenal return of more than 110% on his investment within a week.
During the last crisis in the markets, earlier this year, Sumoto completed a decline of about 20% from the beginning of 2020 to its low point during March, but since then has completed a jump of about 230%.
Sumoto’s activities are concentrated in the field of video and audio advertising, after at the end of March it completed the sale of the app distribution activity to businessman Zvika Barinbaum, which was delayed and updated several times, for a sum of up to $ 34 million.
Yesterday, as stated, the company updated that it has signed a non-binding memorandum of understanding with Nostromo, as part of which it will acquire the company for an allotment of close to 75% to Nostromo shareholders, so that after the transaction, which requires several conditions, current Sumoto shareholders will hold 25% Fun.
Nostromo shares are owned by several prominent businessmen and entities, including the company’s founder Yaron Ben-Nun, son of former Air Force commander Avihu Ben-Nun, a transport group of the Livnat family, Yehudit and Kobi Richter, co-founders of Orbotech and Medinol, Rami Unger, importer of Kia and Daihatsu vehicles and the insurance group. And Menorah Finance Insurance.
BSumoto We noted that “for the purpose of executing the transaction, it was determined between the parties that the value of Nostromo will be $ 37.5 million.”
As Sumoto explains, Nostromo, founded in 2017, is a company engaged in “developing clean and advanced technologies for storing and managing energy demand”, and in this context has developed an “energy storage system based on phase change in water”.
Nostromo operates in a “market for storage and management of energy demand resulting from cooling and air conditioning requirements in commercial buildings, hospitals, shopping centers and factories”, a market that is “a significant part of global energy consumption”.
As far as is known, Nostromo “operates a customer-installed system for over a year” and holds several patents in registration processes in the United States, Europe, China and Israel.
Against the background of Nostromo’s planned entry into the stock market, there is a huge jump of more than 1,000% from the beginning of the year, the share of Ogwind, which also deals with energy storage, in a different way from Nostromo – using compressed air, which is common in various industries. Industrial. ” Following the stock’s rise, the value of Ogwind has already reached more than NIS 2 billion.