Bit Brother Plans To Buy 51% Stake In Angelo's Pizza For $12.5M

Bit Brother Ltd BTB plans to acquire 51% of Angelo's Pizza 1697 Inc, 1279 1st Avenue LLC, and 60th Street Restaurant Corporation (collectively called Angelo's Pizza), for $12.5 million in cash and stock.
Angelo's Pizza has been around as a family-style boutique restaurant for 30 years, later turning to a chain restaurant for another 90 years.
Bit Brother, formerly known as Urban Tea, agreed with Angelo's Pizza to enter into a definitive agreement on due diligence completion.
Upon completing the acquisition, all three chain restaurants will begin to accept cryptocurrency as a form of payment.
Angelo's Pizza plans to expand into international markets such as Canada, Japan, South Korea, China, Singapore, Australia, and New Zealand.
Angelo's Pizza aims to open up 1,000 branches overseas within the next five years.
Price action: BTB shares are trading higher by 7.50% at $2.09 on the last check Tuesday.