Functional Brands Clears Reverse Split for $142.9M BullionFX Acquisition
MEHA•Functional Brands shareholders approved a reverse stock split to satisfy a key closing condition for its $142.9 million all-stock acquisition of BullionFX Alchemy. The deal will integrate a gold-backed DeFi platform offering stablecoins, lending protocols and yield products, with further closing updates expected soon.
1. Shareholder Vote Clears Reverse Split Condition
On June 3, Functional Brands shareholders approved a reverse stock split, satisfying a key closing condition for its $142.9 million all-stock acquisition of BullionFX Alchemy.
2. Acquisition Structure and Terms
The acquisition is structured as an all-stock transaction, granting BullionFX equity in the combined company and aligning interests across retail, institutional and blockchain markets.
3. BullionFX Alchemy Platform Focus
BullionFX Alchemy offers a gold-backed decentralized finance platform featuring stablecoins, lending protocols, yield products and Ethereum interoperability tools designed for scaled adoption.
4. Next Steps and Timeline
The board will determine the exact split ratio within its authorized range before effectiveness, with all other closing conditions advancing and further deal updates expected in coming weeks.
