Orangekloud Technology Inc. Enters Into Definitive Agreement To Acquire Orbis Technology Limited, Operator Of Veve - ORKT News | RalliesOrangekloud Technology Inc. Enters Into Definitive Agreement To Acquire Orbis Technology Limited, Operator Of Veve
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ORKT• Orangekloud to acquire Orbis Technology Limited
- Orangekloud Technology Inc. entered into a definitive agreement to acquire Orbis Technology Limited, operator of Veve.
- The company is to be renamed Veve and trade on Nasdaq as Veve after closing.
- The deal involves an exchange of up to 3,967,705 Orbis shares for 600 million Orangekloud shares at $1 each.
- Each Orbis share is to be exchanged for 37.8048 Class A and 113.4144 Class B Orangekloud shares.
- Orangekloud Technology said it will complete a private placement of $30 million to $100 million of Class A shares.
- The company is permitted to conduct operating expense financing of up to $6 million.
