NEW YORK, APRIL 4, 2019 /PRNewswire/ -- Following successful product and equity crowdfunding campaigns in addition to generating significant sales, Samsara announced today that it has recently signed a non-binding LOI in order to merge 100% of Samsara Luggage in return to 80% of DAVC shares on a fully dilutive base.
"We are proud to consolidate Samsara Luggage technology and products into our public company and are convinced this is a win-win merger that will provide Samsara the means to become a global market leader in the field of smart travel tech. DAVC also intends to promote a process of reverse stock split and continues in parallel its regular business activities," says Avraham Bengio, CEO of DAVC.
Atara Dzikowski and David Dahan, Samsara Co-Founders: "We are excited to move to the next phase, merging with DAVC and launching Samsara smart luggage solutions online and on Amazon stores worldwide. The luggage industry continues to rapidly grow, and Samsara Luggage is here to change the way people travel. This is a real opportunity."
The intended merge comes after DeMarcus Cousins, Golden State Warriors NBA Star, joined Samsara Luggage as investor and ambassador.
About Samsara Luggage
Samsara is one of the only smart luggage companies that meets new airline regulations.
Samsara is dedicated to creating a world where travel is an effortless experience. It offers a fusion of leading-edge technology and classic, reliable design for people who want to look and travel smart.
Samsara's forward-thinking creative team of engineers and designers deconstructed the essence of travel and produced products that maintain a high-commitment to quality.
Blending classic looks with cutting-edge technology, Samsara provides everything a smart traveler would need: ergonomic design with a flat top surface that functions as a mobile desk for laptops, security alerts to the traveler's mobile phone if the suitcase is getting away or opened, USB-C compatible power bank to recharge laptops and mobile devices.
Forward-Looking Statements: Certain matters discussed in this press release may be forward-looking statements. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the Company's success in obtaining new customers; the Company's ability to execute its business model and strategic plans; the Company's success in integrating acquired entities and assets, and all the risks and related information described from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"), including the financial statements and related information contained in the Company's Annual Report on Form 10-K and interim Quarterly Reports on Form 10-Q. The Company assumes no obligation to update the cautionary.
IMPORTANT NOTE: The aforementioned agreement is a non-binding LOI; DAVC continues in parallel its regular business activities.
SOURCE Darkstar Ventures Inc; Samsara Luggage Inc.