- SharpLink Gaming Ltd SBET has acquired certain assets of FourCubed Management LLC and 6t4 Company (collectively, FourCubed) for $8.15 million.
- The total consideration consists of $6.5 million in cash and the issuance of 600,000 restricted ordinary shares of SharpLink.
- The transaction also provides for an earn-out payment of up to 600,000 additional restricted ordinary shares based on the acquired business attaining specific performance benchmarks.
- The acquisition includes FourCubed's iGaming and affiliate marketing network. FourCubed owns and operates an international iGaming affiliate network comprised of over 12,000 sub-affiliates.
- FourCubed has averaged annual revenues of more than $5.5 million for the past three years.
- Price Action: SBET shares are trading higher by 4.74% at $2.65 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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