Stock Alert: Mer Telemanagement Solutions Surges 70% On Merger Deal With Sharplink

(RTTNews) - Shares of Mer Telemanagement Solutions Ltd. (MTSL) are currently gaining nearly 70% on Friday morning after the company announced merger deal with SharpLink Inc.

MTSL is currently trading at $4.7992, up $1.9292 or 67.2195%, on the Nasdaq.

Under the terms of the merger agreement, the shareholders of SharpLink will receive ordinary shares and preferred shares of MTS. SharpLink shareholders are expected to own around 86% of the combined company.

Upon the closing of the merger, which is conditioned upon approval of MTS shareholders, the company will change its name and pursue the business of SharpLink under new management and Board control.