Blackboxstocks appoints Teresa Wills as COO following Eric Pharis resignation

Blackboxstocks Inc. (NASDAQ:BLBX) announced that Eric Pharis has resigned as Chief Operating Officer, effective Thursday. Mr. Pharis, a founder of the company and COO since 2021, will continue with the company in a consulting capacity to provide advisory and transitional services. The leadership change comes as the company’s stock has shown remarkable strength, posting a 200% return over the past year despite challenging market conditions.

The company has appointed Teresa Wills, age 59, as Chief Operating Officer of Blackbox.io Inc., its wholly owned subsidiary. Ms. Wills succeeds Mr. Pharis in all duties and responsibilities related to the operations of the subsidiary.

According to the press release statement, Ms. Wills has contributed to Blackboxstocks since 2017, leading initiatives in customer education, member engagement, and product adoption. She developed the company’s education program and implemented customer support frameworks and operational processes.

Before joining Blackboxstocks, Ms. Wills held executive and product leadership roles in the technology sector. She served as Vice President of Marketing for eBusiness Infrastructure Products at Macromedia, Inc., where she managed global product management and marketing teams. Ms. Wills also worked at National Semiconductor Corporation, directing software product lines and launching a Microsoft-compatible DVD software product. Additionally, she served as Director of Broadcast Video Services at Pacific Bell, leading digital video service launches.

Ms. Wills holds a Bachelor of Business Administration with an emphasis in Management from the University of Alaska.

This information is based on a statement included in a recent SEC filing.

In other recent news, Blackboxstocks Inc. has announced several key developments. The company amended its merger agreement with REalloys Inc., revising the Contingent Value Rights (CVR) transfer terms to include scenarios like transfers upon death or through court orders. This amendment is part of their ongoing merger process with REalloys, a U.S.-based rare earth company. The merger is expected to close in late August, contingent on necessary approvals from the SEC, Nasdaq, and stockholders.

Additionally, Blackboxstocks has entered into an at-the-market (ATM) equity agreement with Alexander Capital, allowing the sale of up to $5.8 million in common stock. The first amendment to the merger agreement with REalloys permits Blackboxstocks to conduct this ATM offering without affecting the share calculations for the merger. This amendment introduces the concept of a "Permitted Shelf Takedown," enabling the company to issue up to 250,000 shares under their shelf registration. These recent developments highlight Blackboxstocks’ strategic financial maneuvers as they proceed with the REalloys acquisition.

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