Stratim Cloud Acquisition Corp. Identifies Target, Announces Binding Letter of Intent for a Business Combination with Force Pressure Control, LLC
~ Binding Letter of Intent Represents Confidence Towards De-SPAC Transaction ~
Reno, NV, Feb. 14, 2023 (GLOBE NEWSWIRE) — Stratim Cloud Acquisition Corp. (“SCAC”) (NASDAQ:SCAQ) a publicly traded special purpose acquisition company, today announced the signing of a binding letter-of-intent (“LOI”) for a business combination with the identified target, Force Pressure Control, LLC (“Force” or the “Company”), a profitable, growing company in the attractive energy services market. Force provides pressure control related rental tools and services required during frac and flowback well operations. The Company designs and assembles proprietary equipment that provides superior solutions for its clients and yields high margins, free cash flows and returns on invested capital. Force’s proprietary equipment is used in oil and natural gas production, as well as in geothermal “clean energy” applications.