WPCS: SEC Declares Form S-4 "Effective" for Proposed Merger of WPCS with DropCar, Inc.

SUISUN, Calif., Dec. 18, 2017 (GLOBE NEWSWIRE) -- WPCS International Incorporated (NASDAQ:WPCS), a low-voltage solutions provider, and DropCar, Inc. ("DropCar") a privately-held provider of app-based automotive logistics and concierge services for both consumers and the automotive industry, announced today that in connection with their proposed merger (the "Merger") the WPCS registration statement on Form S-4 (File No. 333-220891) (the "Registration Statement") was declared "effective" by the U.S. Securities and Exchange Commission (the "SEC") on December 14, 2017.SEC Declares Form S-4 "Effective" forProposed Merger of WPCS with DropCar, Inc.A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/139450ac-0d26-402e-9d9c-23971089333cA Special Meeting of WPCS stockholders to vote on the Merger is scheduled to be held on January 17, 2018 at 9:30 a.m. Eastern Daylight Time at the offices of Morse, Zelnick, Rose & Lander, LLP, 825 Third Avenue, 16th Floor, New York, NY 10022. WPCS stockholders of record as of the close of business on December 14, 2017 are entitled to vote at the Special Meeting. According to WPCS Chief Executive Officer, Sebastian Giordano, "Over the past four years, amidst a successful restructuring, WPCS sought viable opportunities that we believed could provide the best potential to build stockholder value. Our search culminated in identifying DropCar as such an opportunity and, with the effectiveness of the Registration Statement, we are thrilled to be moving another step closer towards completing this transaction. From a market opportunity perspective, on-demand mobility services are a rapidly growing trend, and, in our evaluation, DropCar is well-positioned in this space, with both its B2C and B2B vehicle support subscription offerings."The Registration Statement containing the proxy statement/prospectus/information statement is available through the SEC's website at www.sec.gov or via www.wpcs.com. WPCS expects to begin mailing the proxy statement/prospectus to stockholders over the coming days. Stockholders holding shares in brokerage accounts should receive proxy statements/prospectuses/information statement from their broker. The proxy statement/prospectus/information statement provides important information about the proposed Merger, as well as voting instructions.The Merger, if consummated, will ...Full story available on Benzinga.com