One company that is starting to catch the attention of investors on Wall street is Lexicon United Incorporated. Located in Austin, Texas, Lexicon has built a name for themselves as a diversified holding company whose holdings include companies that specialize in collections and credit recovery. Yesterday, Lexicon took a major step towards enhancing their future with the acquisition of Pathworks PCO of Florida, Inc.
Pathworks has earned a stellar reputation as a provider of HD television, next generation internet access, and carrier –class telephone services which are delivered via state-of-the-art fiber to home networks.
Pursuant to this Merger Agreement, Pathworks is the assignee of certain rights relating to the delivery of fiber optic telecommunications services to homeowners associations and other residential organizations. Pathworks shareholders will exchange all of their issued and outstanding company stock for an aggregate number of shares of the Company’s common stock equal to forty-seven percent (47%) of the pro-forma, fully-diluted shares of the Company’s common stock immediately following the Closing. The company expects that the transaction will close not later than October 31, 2010.
One of the leaders at Lexicon is Elie Saltoun who serves as the corporations President. When asked what this agreement will mean to the future of Lexicon, Saltoun was quoted as saying, “This agreement represents our commitment to the diversification of Lexicon’s business base and our entry into the exciting growth industry of fiber optic content and communications delivery.”
Currently, Lexicon is trading in the $1.50 range. With this merger in place and many other happenings within their pipeline, Lexicon is certainly a company to keep an eye on.
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