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An announcement from IOUpay Limited ( (AU:OVT) ) is now available.
Ovanti Limited has terminated its planned SPAC transaction with Miluna Acquisition Corp, which was intended to list its U.S. BNPL arm Flote US Inc. on NASDAQ. The board concluded that ending the deal gives the company more flexibility to pursue alternative listing structures that better match its long-term U.S. growth ambitions and valuation targets.
The company has reinforced its U.S. strategy by appointing Alessandro Gambotto as chair of its U.S. advisory board and launching a global search for a high-profile U.S.-based CEO with strong fintech and public markets experience. Ovanti is already engaging with alternative SPAC sponsors, planning further executive appointments and a reorganisation of operations as it moves into a phase of accelerated U.S. execution and renewed capital markets engagement.
The most recent analyst rating on (AU:OVT) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on IOUpay Limited stock, see the AU:OVT Stock Forecast page.
More about IOUpay Limited
Ovanti Limited is an ASX-listed fintech company focused on buy now, pay later services through its U.S. subsidiary, Flote US Inc. The group is targeting growth in the U.S. market and aims to secure a NASDAQ listing to support the rapid expansion of its BNPL platform and strengthen its presence among institutional investors and capital markets partners.
Technical Sentiment Signal: Sell
Current Market Cap: A$8.65M
See more data about OVT stock on TipRanks’ Stock Analysis page.