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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Wall Street Transcript ,The

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Bitzio Inc Announces Acquisition Of Grandstand Sports And Memorabilia

Tuesday, 19 Feb 2013 09:15am EST 

Bitzio Inc announced that it has entered into a letter of intent to acquire New York City-based Grandstand Sports and Memorabilia. Founded in 1999, Grandstand is one of the providers of memorabilia in the sports and entertainment industry. Bitzio will acquire Grandstand for a combination of cash, a seller note and restricted shares of Bitzio common stock, as well as certain performance-based cash earn-outs. The closing of the acquisition is contingent upon Bitzio securing certain financing arrangements and completing a capital restructuring, including converting certain of its outstanding securities and obligations. The acquisition is expected to close during the second quarter of 2013. Core Equity Group LLC, through Merriman Capital, Inc. member FINRA & SIPC, is acting as the lead financial advisor to Bitzio in the financing transaction, and as financial advisor to Grandstand Sports & Memorabilia with respect to the acquisition. Financial terms were not disclosed. 

Company Quote

-1.0E-4 -25.00%
17 Oct 2014