Jaxsta Limited (AU:VNL) has released an update.
Vinyl Group, an Australian ASX-listed music company, has acquired the assets of London-based Web3 platform Serenade, which specializes in physical and digital collectibles, through an all-scrip deal. The acquisition is set to expand Vinyl.com’s reach into UK and European markets and is expected to bolster the company’s revenue, with Serenade already operating at breakeven. The deal includes an initial scrip payment of $800K and an additional performance-based earn-out of $1.5M.
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