April 4, 2018 / 2:44 AM / 19 days ago

BRIEF-Hyperblock To Acquire CryptoGlobal

April 3 (Reuters) - CryptoGlobal Corp:

* HYPERBLOCK TO ACQUIRE CRYPTOGLOBAL

* TRANSACTION HAS BEEN UNANIMOUSLY APPROVED BY BOARD OF DIRECTORS OF EACH OF CRYPTOGLOBAL AND HYPERBLOCK

* ‍HYPERBLOCK WILL BUY ALL OF ISSUED & OUTSTANDING SHARES OF CRYPTOGLOBAL BY ISSUING 0.4229 OF A SHARE OF HYPERBLOCK FOR EACH CRYPTOGLOBAL SHARE​

* ‍DEAL IS VALUING EACH CRYPTOGLOBAL COMMON SHARE AT $0.74​

* IMPLIED VALUE OF CRYPTOGLOBAL’S EQUITY UNDER TRANSACTION IS APPROXIMATELY $106 MILLION.

* TRANSACTION IS EXPECTED TO BE ACCRETIVE TO HYPERBLOCK’S CASH FLOW OVER NEXT 12-MONTH PERIOD

* CO EXPECTS TO ISSUE UP TO ABOUT 60.4 MILLION HYPERBLOCK COMMON SHARES TO CRYPTOGLOBAL SHAREHOLDERS IN CONNECTION WITH TRANSACTION

* ‍UPON CLOSING OF TRANSACTION, CRYPTOGLOBAL SHAREHOLDERS WILL OWN APPROXIMATELY 25.2% OF COMBINED COMPANY​

* ‍TRANSACTION IS CURRENTLY EXPECTED TO CLOSE AT END OF MAY 2018​ Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below