LOGIQ, INC.: M&A transaction — Logiq closes merger with Abri SPAC for $114M in shares; dividend declared

LOGIQ, INC.

Total consideration: 11,400,000 shares of Abri common stock valued at $114 million.
DLQ becomes wholly-owned subsidiary of Abri; Logiq stockholders receive dividend of 3,762,000 Abri shares (0.027 per share).
Approximately 53% of Consideration Shares subject to 11-month lock-up and escrow pending DLQ investors recouping original investment.
Merger approved by Logiq stockholders on Oct 25, 2023; closed Nov 2, 2023.

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 a disposition involving Abri SPAC I, Inc. for 11,400,000 shares of the Abri common stock valued at $114 million (closed 2023-11-02).

Action: disposition
Counterparty: Abri SPAC I, Inc.
Consideration: 11,400,000 shares of the Abri common stock valued at $114 million
Closing: 2023-11-02

Exact text from the filing

redemptions of shares of common stock by public stockholders of Abri: ● The total consideration paid at Closing (the “ Merger Consideration ”) by Abri to DLQ security holders was 11,400,000 shares of the Abri common stock valued at $114 million (the “ Consideration Shares ”); - 2 - ● Each share of DLQ Common Stock, if any, that was owned by Abri, Merger Sub, DLQ or

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Source: SEC EDGAR

accession 0001575872-23-001693

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