JanOne Inc. Acquires ALT 5 Sigma Inc.
May 10, 2024
JanOne Inc. (NASDAQ: JAN) has executed a definitive agreement to acquire blockchain fintech provider ALT 5 Sigma Inc.; the transaction is expected to close the week of May 13, 2024 and will result in ALT 5 becoming a wholly owned subsidiary. JanOne will issue 1,799,100 common shares (≈19.9% of outstanding shares as of May 10) and 34,207 shares of Series B preferred stock to ALT 5's former stockholders; the deal is intended to expand JanOne's product portfolio and scale ALT 5's blockchain payment and OTC trading technologies globally.
- Buyers
- JanOne Inc. (NASDAQ: JAN)
- Targets
- ALT 5 Sigma Inc.
- Sellers
- Former stockholders of ALT 5 Sigma Inc.
- Industry
- Financial Services
- Location
- Ontario, Canada
- Transaction Type
- Buyout
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