INXDF - INX Agrees to Extend Negotiating Period for Potential Acquisition Deal with Republic | Benzinga
Committed to its aligned vision and collaboration with Republic, INX has approved a three-month extension of the negotiating period towards an acquisition of INX by Republic
Additionally, INX and Republic renew the parties' Collaboration Agreement by one additional year
TORONTO, Feb. 15, 2024 /PRNewswire/ -- The INX Digital Company, Inc. (Cboe CA: INXD, INXATS: INX, OTCQB: INXDF) ("INX"), a U.S.-regulated broker-dealer, ATS, and transfer agent, and Republic ("Republic"), a global financial firm operating a digital merchant bank and a network of investment platforms, have announced a three-month extension, to May 15, 2024, of the period during which the parties have agreed to negotiate in good faith towards acquisition of INX by Republic, as previously disclosed on June 19, 2023 and November 8, 2023. The companies are also renewing their collaboration agreement for an additional year. The companies mutually agreed to the extension as Republic continues in the process of completing its capital raise round.
In recent months, the parties have expanded their collaboration across various domains, notably by integrating the Republic Wallet into the INX platform and successfully listing the Republic Note on INX's secondary market. The collaboration also entails the development of an integration of Republic's substantial user base into the INX platform, INX.One
Shy Datika, CEO of INX, stated, "We are continually paving new avenues to fulfill our vision of democratizing finance and providing a seamless bridge to the digital economy. Our collaboration with Republic aligns with our mission, and we are proud of the ...