Beacon Equity Research: Q3 Revenue and Reverse Acquisition Drives Clean Diesel Technologies (CDTI)
Clean Diesel Technologies, Inc. surged 21.35% higher during this morning’s trading session and has traded as high as $3.65 on the back of Q3 preliminary results. CDTI is a cleantech emissions reduction company that has also recently entered into an equity purchase agreement with the investing firm Lincoln Park Capital Fund. CDTI refers to the Catalytic Solutions, Inc. acquisition as the “Merger” and accounts for the reverse acquisition. Accordingly, Clean Diesel’s (the legal acquirer’s) consolidated financial statements are now those of CSI (the accounting acquirer), with the assets and liabilities and revenues and expenses of legacy Clean Diesel being included…