SMC Entertainment signs LOI to acquire Bateau Asset Management for US$14M stock

Fyntechnical Innovations Inc

SMC to acquire 100% of Bateau in all-stock deal valued at US$14 million in Series C Preferred stock.
Bateau manages ~$20M AUD AUM, serving 150+ high-net-worth clients from Australia and Singapore.
Expected close in September 2024; provides entry into Australian and SE Asian Fintech market.
SMC CEO calls deal accretive, aims to grow AUM to ~$100M within two years using AI platform.

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