FDCTech amends acquisition date of 50.10% stake in New Star Capital/NSFX to Feb 28, 2023

FDCTECH, INC.

Amended stock purchase agreement for 50.10% equity interest in New Star Capital and its NSFX subsidiary.
Acquisition date changed from Dec 31, 2022 to Feb 28, 2023 (or later, no later than June 30, 2023) to comply with BVI Companies Act.
FDCTech will assume a $350,000 business acquisition loan liability to purchase the controlling interest.
NSFX is a Malta-regulated online trading brokerage (Category 3 license from MFSA) serving English, French, German, Italian, Arabic markets.
Expects to consolidate NSFX's assets and liabilities on or after February 28, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

FDCTECH, INC. entered into Stock Purchase Agreement with New Star Capital Trading Ltd. valued at $350,000 business acquisition loan liability assumed (effective 2022-12-31).

Action: entry
Agreement: equity purchase
Counterparty: New Star Capital Trading Ltd.
Value: $350,000 business acquisition loan liability assumed
Effective: 2022-12-31

Exact text from the filing

On December 31, 2022, the Company announced the Stock Purchase Agreement (“Agreement”) under which the Company acquired a 50.10% equity interest in New Star Capital Trading Ltd., a British Virgin Island company (“New Star”) and its operating subsidiary NSFX Ltd (“NSFX”).

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FDCTECH, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-011814

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