M&A
confidence high
sentiment positive
materiality 0.65
SMC Entertainment acquires ChainTrade's AI platform for $8M note, appoints new CTO
Fyntechnical Innovations Inc
- SMC enters agreement to buy 100% of ChainTrade's AI-powered trading platform assets.
- Consideration: $8M promissory note (18-month, 5% interest, convertible at $1/share) plus $500K working capital over 18 months.
- Paul (Prem) Couture, ChainTrade CEO, to become SMC's CTO; ChainTrade may appoint one board member.
- Closing expected within 30 days pending customary due diligence.
- Platform enables trading equities, ETFs, commodities, indices with AI assistant; press release also announces launch of AI research tool.