M&A
confidence high
sentiment positive
materiality 0.75
Descrypto Holdings to acquire OpenLocker in ~$5M stock deal; Brian Klatsky to join board
Crisp Momentum Inc.
- Acquisition valued at approx. $5M; Descrypto to issue 12.5M shares for all OpenLocker stock.
- Descrypto to fund $300K to OpenLocker at close, with at least $250K additional by Sept 1, 2022.
- Brian Klatsky, OpenLocker CEO, named to Descrypto board; voting agreement with major stockholders.
- Transaction expected to close by May 31, 2022; OpenLocker will become wholly owned subsidiary.
- OpenLocker specializes in blockchain-based digital ownership for college athletes and thoroughbred racing.