Logiq, Inc. Signs LOI to Acquire Privately Held Wealth Management FinTech (PrivCo)
November 18, 2022
Logiq, Inc. (OTCQX: LGIQ) has signed a non-binding letter of intent to acquire a privately held operating company ("PrivCo") that operates in the financial technology sector specializing in wealth management. The transaction contemplates a share exchange of newly issued Logiq shares for 100% of PrivCo's shareholder interests (preliminarily valued at $220–$250 million), with PrivCo to become a wholly owned subsidiary and expected to close by March 31, 2023, subject to a definitive merger agreement and Logiq's pending de-SPAC with Abri SPAC I.
- Buyers
- Logiq, Inc.
- Targets
- Privately Held Operating Company (PrivCo)
- Industry
- Wealth Management
- Transaction Type
- Buyout
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