Kustom Entertainment to Acquire Tickets For Less in Strategic Expansion
KUST is trading near its 52-week low of $0.851 (3.5% above the low).
Summary
Kustom Entertainment has entered into an agreement to acquire TFL, LLC, which operates as Tickets For Less. The acquisition expands Kustom's presence in the ticketing and live events space, complementing its existing entertainment portfolio. This follows the company's recent divestiture of its video solutions segment for $6.1 million, which provided cash and notes. The deal could help address the company's going concern doubt and Nasdaq equity deficiency by adding a revenue-generating business. Terms of the acquisition were not disclosed.
At the time of this announcement, KUST was trading at $0.88 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $5.8M. The 52-week trading range was $0.85 to $36.90. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.