Recruiter.com to acquire GoLogiq fintech for 84% stock; spin-off AI business; CEO change

Nixxy, Inc.

Acquires GoLogiq fintech assets for 84% of common stock; combined valuation ~$105M; existing shareholders retain ~16%.
Earn-out: if market cap exceeds $105M, seller gets additional shares up to 90% of increase above $160M.
Existing AI/recruiting operations to be spun off into new OTC entity; shareholders will hold shares in both companies.
CEO Evan Sohn steps down, becomes Executive Chairman; Miles Jennings (formerly President/COO) assumes CEO role indefinitely.
Company recently launched AI products (Candidate Pitch, Recruiting with ChatGPT) that will transfer to the spin-off.

item 1.01 item 7.01 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 0.9

Nixxy, Inc. entered into Stock Purchase Agreement with GoLogiq Inc. (effective 2023-06-05).

Action: entry
Agreement: asset purchase
Counterparty: GoLogiq Inc.
Effective: 2023-06-05

Exact text from the filing

On June 5, 2023, Recruiter.com Group, Inc. (“Recruiter.com” or “Buyer”) entered into that certain Stock Purchase Agreement (the “Agreement”) with GoLogiq Inc., a Delaware corporation (“GoLogiq” or “Seller”).

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33 material agreements filed in the last 30 days. Browse all material agreements →

Nixxy, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-23-007824

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