LOGIQ, INC.: M&A transaction — Logiq acquires Park Place Payments in all-stock deal valued at over $6M

LOGIQ, INC.

All-stock deal: 14.65M shares issued (9.77M earnout); value >$6M after milestones.
Park Place: 1,500+ account executives, $180M+ annualized volume; expects >$5M revenue and positive cash flow in 2023.
Founder/CEO Samantha Ettus stays; Logiq plans cross-selling lead gen and fintech products (insurance/lending).
Target: Park Place revenue $15M+ next year, sales force to 40,000+ account executives.
Logiq plans further M&A to add complementary brands and leverage AI-driven advertising platform.

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Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

LOGIQ, INC. completed an acquisition involving Park Place Payments, Inc. (closed 2023-04-25).

Action: acquisition
Counterparty: Park Place Payments, Inc.
Closing: 2023-04-25

Exact text from the filing

On April 25, 2023, the Company, Park Place, and the Stakeholders consummated the transactions contemplated by the Share Exchange Agreement.

View on SEC.gov

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Source: SEC EDGAR

accession 0001575872-23-000631

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