Immutable Holdings to Be Acquired by Jorge Masvidal's Gamebred FC in Reverse Takeover, Listing on TSXV
IHLDF sits 31% above its 52-week low of $0.028.
Summary
Immutable Holdings has signed a definitive agreement for a reverse takeover by Gamebred FC, the combat sports promotion founded by UFC legend Jorge Masvidal. Gamebred shareholders will receive 312.5 million shares of the resulting issuer, leaving existing Immutable holders with about 23.9% ownership. The deal includes a US$1 million bridge loan from Immutable to Gamebred and a concurrent financing to meet TSXV listing requirements. Trading in Immutable shares will be halted on Cboe pending completion, with the resulting issuer expected to list on the TSXV. This transforms Immutable from a digital assets holding company into a bare-knuckle MMA promotion with a global media rights deal with DAZN.
At the time of this announcement, IHLDF was trading at $0.04 on OTC in the Trade & Services sector, with a market capitalization of approximately $3.4M. The 52-week trading range was $0.03 to $0.18. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: ACCESS Newswire.