- Tokens.com has completed the acquisition of Metaverse Group.
- The digital assets investment company purchased the remaining minority interest with about $928,225 worth of Tokens.com shares.
- The transaction also included 3,105,650 options to purchase Tokens.com shares and 694,000 restricted stock units issued as replacement securities.
Tokens.com has announced the complete purchase of Metaverse Group. The digital assets investment company previously held a majority stake in the Metaverse gaming solutions provider.
According to the announcement on Monday, Tokens.com has issued 20,576,941 common shares to the minority Metaverse Group, shareholders, as consideration, which can be exchanged at a rate of 0.347 per share of Tokens.com stock. Tokens.com shares traded at about $0.13 (CAD$0.17) on Monday, implying a valuation of about $928,225 for the minority stake.
The transaction also included 3,105,650 options to purchase Tokens.com shares and 694,000 restricted stock units issued as replacement securities to certain security holders.
The Tokens.com shares issued to Metaverse Group shareholders will be subject to a 9-month escrow period, during which the shares will be held by a third party until certain provisions of the purchase have been met.
Tokens.com is building a metaverse gaming infrastructure powered by its two main products, Metaverse Group – the metaverse platform featuring NFTs and custom tech solutions for building 3D worlds and Hulk Labs – a web3 gaming studio.
The full acquisition of Metaverse Group will allow Tokens.com to integrate the companies unlocking more technological synergies.
Commenting on the acquisition, Tokens.com CEO Andrew Kiguel said: “The staking business has provided a strong cushion of capital for our business since inception. As the Company grows, we need to evaluate where we can achieve the highest risk-adjusted returns.”
“With token values peaking in 2021 and staking rewards declining for large-cap tokens, we are evaluating the most strategic and rewarding ways to use the digital assets on behalf of shareholders,” added Kiguel.
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