M&A
confidence high
sentiment neutral
materiality 0.80
EKIMAS completes stock sale to Reddington; 90% ownership after reverse split
Nordicus Partners Corp
- Reddington acquired 51.8% at first close on Oct. 12, 2021, then 90% after second tranche and 1-for-50 reverse split on Mar. 11, 2022.
- Total purchase price $400,000; $200,000 at first close, $200,000 at second close with escrow for liabilities.
- Principal Stockholders entered Voting Agreements covering 4,434,240 shares; agreements terminated at second close.
- Reddington's sole owner is Henrik Rouf; funds came from a loan from a private Danish company.
- Shares sold in reliance on Section 4(a)(2) and Rule 506(b); no sales commissions paid.