Kustom Entertainment closes USD 6.1 million legacy video solutions asset sale to Cycurion
KUST•Deal consideration includes cash, note and preferred stock
Consideration includes USD 1.25 million cash, a USD 4.25 million secured promissory note, and USD 600,000 of Cycurion Series H preferred stock.
The promissory note runs for 36 months with 7% annual interest. The Series H preferred stock carries a 12% cumulative dividend, paid quarterly in Cycurion shares.
Kustom Entertainment closes legacy video solutions asset sale
Kustom Entertainment closed the divestiture of its legacy video solutions business assets to Cycurion in a USD 6.1 million deal.
The transaction was completed Aug. 3 under amended terms tied to the asset purchase agreement.
Kustom completes shift to live entertainment and ticketing technology
The deal completes Kustom’s shift to a pure-play live entertainment and ticketing technology business.
