Eightco Announces The Cancellation Of The Forever 8 2022 Merger Earnout Consideration; The Earnout Was Fair Valued At $6.1M And Had A Potential Cash Value Of Up To $37M
Eightco Announces The Cancellation Of The Forever 8 2022 Merger Earnout Consideration; The Earnout Was Fair Valued At $6.1M And Had A Potential Cash Value Of Up To $37M
Eightco Holdings Inc. (NASDAQ:OCTO) (the "Company" or "Eightco") today announced that the former owners ("F8 Members") of Forever 8 Fund, LLC ("Forever 8") have agreed, effective as of March 17, 2024, to cancel their right to receive certain earnout consideration provided for under the September 2022 Membership Interest Purchase Agreement between the Company and Forever 8 ("Earnout") whereby the Company acquired Forever 8. The Earnout was fair valued at $6.1 million and had a potential cash value of up to $37 million.
Eightco Holdings Inc.（納斯達克股票代碼：OCTO）（“公司” 或 “Eightco”）今天宣佈，Forever 8 Fund, LLC（“Forever 8”）的前所有者（“F8成員”）已同意取消其獲得2022年9月公司與Forever 8簽訂的會員利息購買協議（“Earnout”）中規定的某些收益對價的權利，該協議自2024年3月17日起生效該公司收購了 Forever 8。收益的公允價值爲610萬美元，潛在現金價值高達3700萬美元。
The Company expects that the cancellation of the Earnout, together with the other recently announced transactions, will result in an improvement of over $7 million to the Company's shareholder's equity.
該公司預計，Earnout的取消以及最近宣佈的其他交易將使公司股東權益增加超過700萬美元。
"Given the ongoing success and growth of Forever 8 and my alignment as a shareholder, I believe the cancellation of the Earnout puts the Company in a stronger position regarding both its balance sheet and capital structure," said Paul Vassilakos, CEO of Eightco and President of Forever 8. "I continue to believe that optimizing the Company's capital structure and balance sheet remains a high priority due to its importance in laying a strong foundation for growth."
Eightco首席執行官兼Forever 8總裁保羅·瓦西拉科斯表示：“鑑於Forever 8的持續成功和增長，以及我作爲股東的一致性，我認爲Earnout的取消將使公司在資產負債表和資本結構方面處於更有利的地位。”“我仍然認爲，優化公司的資本結構和資產負債表仍然是當務之急，因爲這對於奠定堅實的增長基礎非常重要。”
譯文內容由第三人軟體翻譯。