M&A
confidence high
sentiment neutral
materiality 0.60
Limitless X enters binding LOI to acquire 60% of Ding Easy AI for $9M in stock
Limitless X Holdings Inc.
- Bodycor, subsidiary of Limitless X, to acquire 60% of Ding Easy AI at $15M pre-money valuation; consideration of $9M in LIMX restricted stock.
- Ding is controlled by Daniel Sanders, also President of Limitless X's subsidiary; transaction approved by Audit Committee as related-party.
- Up to $1.75M growth capital from Bodycor, with $750K in tranches and $1M contingent on revenue/user milestones.
- Bodycor gets call option to acquire remaining 40% upon Ding reaching $40M valuation, for $16M in stock.
- Exclusivity period of 120 days; definitive agreements to follow.