MMV - MultiMetaVerse jumps on deal to acquire e-commerce service provider Bowong AI
2024-05-20 09:27:46 ET
- MultiMetaVerse Holdings ( NASDAQ: MMV ) to acquire 100% of Bowong Technology, and its subsidiaries, by the issuance of the company's Class A ordinary shares to the shareholders of Bowong AI as consideration, the amount of which will be determined based on further due diligence and negotiation.
- MMV shares jumped +92.95% premarket to $1.14.
- The consideration shares shall be subject to a lock-up period of one year, MultiMetaVerse Holdings ( MMV ) said.
- MultiMetaVerse Holdings ( MMV ) has an exclusive period of 90-day to negotiate a definitive agreement for the Proposed Transaction.
- Founded in 2022, Bowong AI is an artificial intelligence company specializing in e-commerce solutions, and the proceeds will be used to further develop its models and technologies in the e-commerce field, expand its market into Asia and North America, and recruit additional top talents.
- Source: Press Release