M&A
confidence high
sentiment positive
materiality 0.65
Freedom Holdings signs LOI to acquire Swedish AI app Frank AI for $400K total consideration
Awareness Group, Inc.
- Purchase price: $200,000 cash + $200,000 in Freedom common stock at closing.
- Frank AI has 135,700 total downloads, 4.8 App Store rating, and hundreds of paid subscribers.
- App is revenue positive; monthly downloads average 9,000; email list of ~120,000 users.
- Closing expected before end of September 2024 pending audit and definitive agreement.
- Management plans further acquisitions to enhance shareholder value.