M&A
confidence high
sentiment positive
materiality 0.85
Flash Sports & Media signs term sheet to acquire 51% of Bongo for ~$25.7M; Bongo has ~$10M revenue
urban-gro, Inc.
- Pre-money valuation of Bongo at $35M; total consideration ~$25.7M (60% cash, 40% FLZH stock).
- Earnout up to $12M over 3 years for Bongo management based on revenue and EBITDA targets.
- Bongo reaches 300M+ viewers, 73M social followers; expects positive EBITDA post-closing.
- Target closing date September 15, 2026; term sheet non-binding except exclusivity and expense reimbursement.
- Stockholder approval required if FLZH shares issued exceed 19.99% of outstanding common stock.