Vemanti terminates DevBlock acquisition after failure to close by July 31 deadline

Vemanti Group, Inc.

Stock Purchase Agreement to acquire DevBlock Technologies terminated effective September 26, 2023.
Termination sent because closing conditions remained unsatisfied past the July 31, 2023 unilateral termination date.
No termination fees or penalties incurred by Vemanti; deal with sellers Benjamin Liu and James Sun abandoned.

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

Vemanti Group, Inc. terminated Stock Purchase Agreement with Benjamin Liu and James Sun valued at The Stock Purchase Agreement was terminated effective September 26, 2023. No termination fees or pen (effective 2023-09-26).

Action: termination
Agreement: equity purchase
Counterparty: Benjamin Liu and James Sun
Value: The Stock Purchase Agreement was terminated effective September 26, 2023. No termination fees or pen
Effective: 2023-09-26

Exact text from the filing

On September 25, 2023, Vemanti sent a formal notice of termination to the Sellers pursuant to which the Stock Purchase Agreement (and the transactions contemplated thereunder) was terminated effective as of September 26, 2023 (the " Termination Notice ").

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Vemanti Group, Inc. filing history →

Source: SEC EDGAR

accession 0001477932-23-007140

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