Siebert Financial subsidiary acquires Guild mobile self-directed trading app for $385K

SIEBERT FINANCIAL CORP

Subsidiary Siebert Technologies purchased Guild mobile trading app for total $385,000 from J2 Financial Technology.
Consideration: $350,000 in SIEB restricted stock (30-day MA) and $35,000 cash.
Acquisition includes software, code, UI, algorithms, Guild trademark, and related IP for self-directed trading app.
Restricted stock subject to six-month lock-up; issued to 17 holders of Simple Agreements for Future Equity.
Transaction closed January 18, 2024.

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

SIEBERT FINANCIAL CORP entered into Purchase Agreement with J2 Financial Technology, Inc., d/b/a "Guild" valued at three hundred eight-five thousand dollars ($385,000) (effective 2024-01-18).

Action: entry
Agreement: asset purchase
Counterparty: J2 Financial Technology, Inc., d/b/a "Guild"
Value: three hundred eight-five thousand dollars ($385,000)
Effective: 2024-01-18

Exact text from the filing

On January 18, 2024, Siebert Technologies, LLC (“STCH”), a subsidiary of Siebert Financial Corp. (the “Company”) entered into a Purchase Agreement (the “Purchase Agreement”) with J2 Financial Technology, Inc., d/b/a “Guild”, a Delaware corporation. Under the Purchase Agreement, STCH purchased a Mobile Self-Directed Trading App for the total purchase price (“Purchase Price”) of three hundred eight-five thousand dollars ($385,000), consisting of three hundred and fifty thousand dollars’ ($350,000) of the Company’s common stock (NASDAQ: SIEB), priced at the historical 30-day moving average, as of January 18, 2024, and thirty-five thousand dollars ($35,000) cash at Closing.

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Source: SEC EDGAR

accession 0001213900-24-006112

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