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Spenda Limited ( (AU:SPX) ) has issued an update.
Spenda Limited has announced that its subsidiary, Limepay Pty Ltd, has met the conditions for the issuance of Tranche 3 Deferred Consideration by achieving a three-month revenue of $1.2 million. This milestone triggers the issuance of 137,142,857 shares to Limepay vendors, marking a significant step in the acquisition agreement. The achievement underscores the successful integration and performance of Limepay within Spenda’s operations, reflecting positively on the company’s strategic growth initiatives. The completion of this tranche leaves only Tranche 4 Deferred Consideration pending, which requires Limepay to achieve a higher revenue target within two years. This development highlights Spenda’s commitment to expanding its market presence and enhancing shareholder value through strategic acquisitions.
More about Spenda Limited
Spenda Limited (ASX:SPX) is an integrated business platform specializing in electronic payment solutions across supply chains and trading networks. The company offers a comprehensive suite of services, including software, payments, and lending, to streamline processes and improve operational efficiency. Spenda’s solutions facilitate end-to-end e-invoicing integration, rapid ordering, digital trust, and automated reconciliation, creating a standardized operating environment for seamless data transfer across disparate systems. The company generates revenue through SaaS, B2B and B2C payments, and B2B supply chain finance, offering customized financing solutions to enhance clients’ working capital efficiency.
Technical Sentiment Signal: Sell
Current Market Cap: A$14.18M
For detailed information about SPX stock, go to TipRanks’ Stock Analysis page.