M&A
confidence high
sentiment neutral
materiality 0.65
HUMBL to acquire Agora Digital via $60M Series C preferred stock exchange
TAP REAL ESTATE TECHNOLOGIES, INC.
- Exchange 6,000 Series C preferred shares (stated value $60M) for all Agora Digital shares and a $5.4M promissory note from Ecoark.
- Closing conditions: HUMBL needs $10M+ capital commitments; Agora Digital must have $1M+ cash at closing.
- Series C convertible into 1 billion common shares at $0.06/share; Ecoark gets 4,876 of the 6,000 preferred shares.
- Agora Digital shareholders receive 585 shares; Ecoark receives 539 shares for cancelling the note.
- Deal can be terminated if conditions not met by Sept 30, 2022; Agora Digital gets two board seats on expanded seven-member board.