Cuentas signs binding LOI to acquire SDI Group assets for $3.2M

Cuentas Inc.

Purchase price $3.2M; $2M escrowed immediately, $1.2M at closing; proceeds to repay SBA loans of ~$4.2M.
Acquired assets include Mango Mobile MVNO, Black Wireless MVNO, Black 011 long distance, and 31,000+ bodega distribution network.
Seller represents 2021 combined gross revenues at least $9M; Buyer can cancel if materially less.
Offer employment agreements to certain key employees; Owners to pay additional $1M toward SBA loans.

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