Under the terms of the merger agreement, the former Trunity shareholders exchanged their shares for Trunity Holdings shares so that upon the closing of the merger, the former Trunity shareholders own 99% of Trunity Holdings f/k/a Brain Tree. Trunity Holdings has applied for a new stock symbol to take effect in the near future.
Terry Anderton, co-founder and CEO of Trunity, commented, "We believe that along with the 2200+ scientists and expert contributors from over 150 academic institutions from 60 countries that publish on the Trunity platform using Trunity's cloud based eLearning and Virtual Textbook solution, we have created a transformational end-to-end solution to address the huge educational marketplace. We are pleased to be taking the next step in Trunity's evolution, by becoming a publicly-traded company. We look forward to rewarding our shareholders with opportunities associated with transformation and virtualization that is occurring rapidly in the educational space."
Trunity, Inc. is a Delaware corporation headquartered in Newburyport. Trunity has developed a fully hosted knowledge-sharing platform — that focuses on the rapidly growing eLearning, virtual textbook and corporate communications marketplace.
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