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NRP Stone (NRPI) Stock Skyrockets After Closing Acquisition of Uplift Aerospace

Thursday, July 08, 2021 12:33 PM | Kyle Depontes

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NRP Stone (NRPI) Stock Skyrockets After Closing Acquisition of Uplift Aerospace

What is going on with NRPI?

NRP Stone (NRPI) stock surged today after the company announced it closed its acquisition of Uplift Aerospace, hastening the end of the strategic move. Previously, the company had stated closing would occur upon receiving a name and symbol change at the request of Uplift.

"We view the hastening of the closing as a strategic move forward for both entities," commented David Clark, President of NRP.

The acquisition closed on June 30, 2021, at the request of Uplift Aerospace, which received 50 million restricted shares of NRP Stone, Inc. stock in exchange for 80% of Uplift. Shares of NRPI increased 25% to $0.1015 as of Thursday at 12:07pm.

What does this mean for NRP Stone, Inc?

NRP's merger with Uplift will significantly increase their revenue stream, both from short-term and long-term projects. Uplift has stated that going forward, they will look to commercialize in-space mining, infrastructure, manufacturing, and production technology.

Josh Hanes, CEO of Uplift Aerospace, stated, "Short-term revenues will be generated by both engagement fees and product sales through our marketplace in space planned for this next year. As part of our revenue model, Uplift will commission and sell fine art for showcase in space and on earth, engage with luxury brands and designers to create and sell products, and apply for governmental grants."

The application with the Financial Industry Regulatory Authority (FINRA) for a symbol and name change is still in the process. The name and symbol change will be announced when it is received from the agency.

NRPI has a Short-Term Technical Rank of 7. Find out what this means to you and get the rest of the rankings on NRPI!

NRP Stone Inc is a distributor of gemstones and precious metals for the jewelry industry.

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