Ispire Technology, Inc. (ISPR) has released an update.
Ispire Technology, Inc. and Berify agreed on a Term Sheet to form a joint venture, NewCo, to be equally owned by both companies, with Ispire investing up to $10 million. Berify commits to an exclusivity period, during which it will not negotiate its technology assets with others without Ispire’s consent. The venture hinges on executing Definitive Documents, subject to due diligence, board approvals, and regulatory consents, with the potential for third parties to join. The Term Sheet will be void if not finalized by April 1, 2024, unless mutually extended.
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For a comprehensive understanding of the announcement, you can read the full document here.
