Linkage Global Signs LOI To Acquire Cicada Tech For $60 Mln
(RTTNews) - Linkage Global Inc. (LGCB), a cross-border e-commerce integrated services provider headquartered in Japan, announced that it has entered into a nonbinding Letter of Intent (LOI) with Cicada Tech Limited. Cicada Tech is primarily engaged in tokenizing real-world assets into liquid, on-chain yield instruments.
Under the LOI, the two companies will conduct diligence and negotiations regarding a potential transaction in which Linkage Global may acquire 100% of Cicada Tech's equity interest. The proposed consideration totals $60 million, consisting of $3 million in cash and the remainder to be satisfied through the issuance of Linkage Global Class A ordinary shares.
The transaction is also conditional upon, among other matters,the negotiation and execution of a definitive purchase agreement containing customary representations, warranties, covenants and indemnities, receipt of any required regulatory and thirdparty approvals, and the absence of any material adverse change.
