Energy Mad proffers itself to SaaS firm PaySauce for reverse listing

Fri, 02 Mar 2018

By Rebecca Howard March 2 (BusinessDesk) - Energy Mad plans to carry out a reverse listing with PaySauce, handing over outstanding debt to the new firm and giving shareholders a stake in a cloud-based, software-as-a-service payroll solution company. "This is a standard reverse listing," said chair Brent Wheeler. Energy Mad, the energy efficient light bulb maker and marketer, will "buy PaySauce by issuing it a vast bunch of shares," he said. "What do shareholders get out of this? They get the creditors paid off and they get 3 percent of t...

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