Textraw is a sterile, eco-friendly, and long-lasting replacement ground cover that does not fade, crumble, or attract insects.
The company said it utilizes its disruptive technology to further shrink the pine straw market: for every one bale of Textraw used the traditional pine straw mark is curbed by 8 bales.
The purchase price for these interests is expected to be $3m and will be paid in some combination of cash and company stock as agreed upon by the parties prior to closing.
The closing of the transaction is subject to a number of customary pre-closing conditions.
