2023-04-18 08:14:20 ET
- SMC Entertainment ( OTCPK:SMCE ) has executed a stock purchase agreement acquiring 100% shares of Fyniti Global Equities EBT for equity.
- Fyniti will operate as a 100% wholly owned subsidiary of the company.
- The acquisition is valued at $25M.
- The company will issue 2.5M shares of its $10.00 Series B preferred stock.
- The closing is anticipated in the next few weeks.
- The company committed to raising up to $2M to expand Fyniti's sales and marketing programs, implement additional technology features in its AI-enabled products and algorithms, and working capital.
For further details see:
SMC Entertainment to acquire Fyniti Global Equities for $25M