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SMC Entertainment ( OTCPK:SMCE ) on Wednesday announced the execution of a letter of intent to acquire 100% of Fyniti Global Equities EBT for equity.
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Pursuant to the terms of the LOI, SMC will acquire the 100% of the issued and outstanding stock of Fyniti including all proprietary technology algorithms. The acquisition is valued at $25 million.
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Fyniti shareholders will receive SMC's preferred stock convertible to common.
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Fyniti is a Fintech developer and provider of technology that combines AI/ML driven quantitative investing with AI-enabled wealth management Electronic Block Trading technology.
For further details see:
SMC Entertainment signs LOI to buy Fyniti in deal valued at $25M