Cuentas to issue 33.3% of diluted shares for $2M interest in Lakewood affordable housing project

Cuentas Inc.

Binding LOI signed with Core Development Holdings to buy a portion of its 29.3% stake in 4280 Lakewood Road Manager, LLC.
Purchase price of $2 million payable in Cuentas common shares equal to 33.3% of fully diluted shares (~10M of 30M shares).
Exact interest acquired will be set by independent appraisals; closing targeted within 30 days of LOI.
Transaction subject to board and shareholder approval, due diligence, and consent of Lakewood Manager.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cuentas Inc. entered into Binding Letter of Intent with Core Development Holdings Corporation valued at $2,000,000 (effective 2023-01-05).

Action: entry
Counterparty: Core Development Holdings Corporation
Value: $2,000,000
Effective: 2023-01-05

Exact text from the filing

On January 5, 2023, Cuentas, Inc. (“Cuentas”) signed a Binding Letter of Intent with Core Development Holdings Corporation (“Core”)

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Cuentas Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-001515

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