RCRT - Recruiter.com announces corporate restructuring acquires GoLogiq

2023-06-07 11:41:54 ET

• Recruiter.com ( NASDAQ: RCRT ) has announced a definitive agreement for a planned purchase of the fintech assets of GoLogiq  ( OTCPK:GOLQ ), a U.S.-based global innovator of fintech and consumer data analytics.
• The combined companies are valued at ~$105M, with existing Recruiter.com maintaining ~16%.
• Recruiter.com will continue to be listed on the Nasdaq and plans to change its name to a name and branding that would reflect the new fintech focus of the combined company.
• Concurrently, Recruiter.com's existing operating business, assets, and liabilities are planned to be spun off into a new entity focused on artificial intelligence-related businesses in the work technology sector, publicly quoted on the OTC Market. Shareholders of record as of the record date will then hold two securities - Recruiter.com and the AI Company.
• Evan Sohn, the current CEO of Recruiter.com, has stepped down from the CEO position, effective June 2, 2023. Miles Jennings, a co-founder and the current President and COO of Recruiter.com, has assume the CEO role indefinitely.
• RCRT is -21% to $0.3
• Source: Press Release

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