DGAP-Adhoc: The Social Chain AG plans acquisition of majority stake in A4D Inc. based in Carlsbad, CA, USA
DGAP-Ad-hoc: The Social Chain AG / Key word(s): Letter of Intent/Takeover
The Social Chain AG plans acquisition of majority stake in A4D Inc. based in Carlsbad, CA, USA
07-May-2020 / 12:52 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Publication Pursuant to MAR Article 17
The Social Chain AG plans acquisition of majority stake in A4D Inc. based in Carlsbad, CA, USA
Berlin, 7 May 2020 - The Social Chain AG (WKN: A1YC99, ISIN: DE000A1YC996, Ticker: PU11) (the "Company") plans to aquire the majority of the shares of A4D Inc., a specialist for digital performance marketing, based in Carlsbad, CA, USA.
Today, the Supervisory Board of the Company has approved the execution of the planned transaction in principle.
The planned aquisition of a total of 51% of the share capital in A4d Inc. is to take place via a subsidiary based in the USA.
The acquisition of the shares in A4d Inc. is to take place against payment of a purchase price in the low double-digit million range.
The current CEO and sole shareholder of A4d Inc, Jason Akatiff, is to remain CEO of A4D after completion of the planned transaction.
The closing of the transaction between the parties is currently scheduled for the end of May.
About THE SOCIAL CHAIN AG
As the first integrated social media company. THE SOCIAL CHAIN AG combines social media and social commerce, integrated through its own tech platform LINKS. The company is a pioneer in the creation, development and scaling of social media brands. The company's headquarters are in Berlin with additional offices in Manchester, London, New York and Munich.
Contact:
Jana Walker | Investor Relations I ir@socialchain.com
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