RDE Inc. agrees to acquire CardCash.com for $2M cash and 6.1M shares; combined rev $101.7M

GIFTIFY, INC.

Consideration: $2M cash ($1M at closing, $1M promissory note) plus 6,108,077 restricted shares (~37% post-merger equity).
Closing targeted by end of 2023, subject to conditions including listing on Nasdaq Capital Market.
Combined unaudited 2022 revenue of $101.7M; $46.9M through June 30, 2023.
Elliot Bohm (CardCash President) to join RDE Board and remain President; Marc Ackerman continues as COO; each gets $375K salary and 1.25M restricted shares vesting over 4 years.
Acquisition creates cross-sell opportunities, expanding gift card offerings across multiple industries.

item 1.01 item 9.01

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

GIFTIFY, INC. entered into Agreement and Plan of Merger with CardCash Exchange, Inc. (effective 2023-08-18).

Action: entry
Agreement: merger
Counterparty: CardCash Exchange, Inc.
Effective: 2023-08-18

Exact text from the filing

On August 18, 2023, the registrant (“RDE”), through a newly formed Delaware subsidiary, CardCash Acquisition Corp., entered into an Agreement and Plan of Merger (the “Merger Agreement”) with CardCash Exchange, Inc. (“CardCash”), a Delaware corporation

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GIFTIFY, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-029780

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