Eightco Holdings announced that the former owners of Forever 8 Fund have agreed, effective as of March 17, 2024, to cancel their right to receive certain earnout consideration provided for under the September 2022 Membership Interest Purchase Agreement between the Company and Forever 8 whereby the Company acquired Forever 8. The Earnout was fair valued at $6.1 million and had a potential cash value of up to $37 million. The Company expects that the cancellation of the Earnout, together with the other recently announced transactions, will result in an improvement of over $7 million to the Company’s shareholder’s equity.
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